Phillips 66 Partners PT Raised to $70.00 at Credit Suisse (PSXP)
Investment analysts at Credit Suisse raised their price objective on shares of Phillips 66 Partners (NASDAQ:PSXP) from $55.00 to $70.00 in a note issued to investors on Tuesday. Credit Suisse’s price objective would indicate a potential downside of 7.46% from the company’s current price.
A number of other analysts have also recently weighed in on PSXP. Analysts at Zacks downgraded shares of Phillips 66 Partners from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 21st. They now have a $62.70 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Phillips 66 Partners in a research note on Thursday, May 1st. They now have a $53.50 price target on the stock. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Phillips 66 Partners presently has an average rating of “Hold” and a consensus price target of $50.17.
Shares of Phillips 66 Partners (NASDAQ:PSXP) traded down 1.37% during mid-day trading on Tuesday, hitting $74.60. 29,442 shares of the company’s stock traded hands. Phillips 66 Partners has a 1-year low of $28.10 and a 1-year high of $79.92. The stock’s 50-day moving average is $70.27 and its 200-day moving average is $52.84. The company has a market cap of $5.518 billion and a price-to-earnings ratio of 122.20.
Phillips 66 Partners (NASDAQ:PSXP) last released its earnings data on Wednesday, April 30th. The company reported $0.24 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.30 by $0.06. The company had revenue of $36.00 million for the quarter, compared to the consensus estimate of $36.70 million. Analysts expect that Phillips 66 Partners will post $1.76 EPS 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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