Phillips 66 Partners LP Downgraded by Zacks to Underperform (PSXP)
Phillips 66 Partners LP (NASDAQ:PSXP) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, AR Network reports. They currently have a $34.40 price objective on the stock. Zacks‘ price target points to a potential downside of 5.10% from the stock’s previous close.
Shares of Phillips 66 Partners LP (NASDAQ:PSXP) traded down 0.57% on Tuesday, hitting $36.044. The stock had a trading volume of 70,636 shares. Phillips 66 Partners LP has a 52 week low of $28.10 and a 52 week high of $38.99. The stock has a 50-day moving average of $34.94 and a 200-day moving average of $32.60. The company has a market cap of $2.539 billion and a P/E ratio of 109.52.
Phillips 66 Partners LP (NASDAQ:PSXP) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.23 by $1.06. The company had revenue of $29.60 million for the quarter, compared to the consensus estimate of $41.23 billion. Phillips 66 Partners LP’s revenue was up 39.0% compared to the same quarter last year. On average, analysts predict that Phillips 66 Partners LP will post $0.89 earnings per share for the current fiscal year.
Phillips 66 Partners LP owns, operates, develops and acquires primarily fee-based crude oil, refined petroleum product and natural gas liquids (NASDAQ:PSXP) pipelines and terminals and other transportation and midstream assets.
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