Deutsche Bank AG Analysts Give Phillips 66 Partners LP (PSXP) a $57.00 Price Target
Phillips 66 Partners LP (NYSE:PSXP) received a $57.00 price objective from investment analysts at Deutsche Bank AG in a report released on Monday. The firm currently has a a “buy” rating on the stock. Deutsche Bank AG’s target price would indicate a potential upside of 20.15% from the company’s previous close.
PSXP has been the topic of several other reports. Jefferies Group initiated coverage on Phillips 66 Partners in a research report on Tuesday, August 23rd. They set a “hold” rating and a $54.00 price target on the stock. Goldman Sachs Group Inc. began coverage on Phillips 66 Partners in a research report on Thursday, August 25th. They set a “neutral” rating and a $52.00 price target on the stock. Mizuho began coverage on Phillips 66 Partners in a research report on Thursday, September 29th. They issued a “buy” rating and a $55.00 target price on the stock. Barclays PLC dropped their target price on Phillips 66 Partners from $66.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 28th. Finally, Credit Suisse Group AG set a $76.00 target price on Phillips 66 Partners and gave the stock a “buy” rating in a research report on Monday, August 1st. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $64.79.
Phillips 66 Partners (NYSE:PSXP) traded down 0.57% during midday trading on Monday, hitting $47.17. 145,028 shares of the company traded hands. Phillips 66 Partners has a 12-month low of $46.20 and a 12-month high of $66.81. The stock has a 50 day moving average of $48.24 and a 200 day moving average of $53.43. The stock has a market cap of $4.59 billion, a P/E ratio of 22.86 and a beta of 1.57.
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Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.01. The firm had revenue of $140.40 million for the quarter, compared to analyst estimates of $122.82 million. The business’s revenue was up 67.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share. Equities research analysts predict that Phillips 66 Partners will post $2.28 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of Phillips 66 Partners during the second quarter worth approximately $755,000. Cypress Wealth Advisors LLC raised its position in shares of Phillips 66 Partners by 7.5% in the second quarter. Cypress Wealth Advisors LLC now owns 12,475 shares of the company’s stock worth $697,000 after buying an additional 875 shares during the period. Advisory Research Inc. raised its position in shares of Phillips 66 Partners by 10.9% in the second quarter. Advisory Research Inc. now owns 925,114 shares of the company’s stock worth $51,686,000 after buying an additional 90,621 shares during the period. Balentine LLC acquired a new position in shares of Phillips 66 Partners during the second quarter worth approximately $173,000. Finally, Westwood Holdings Group Inc. raised its position in shares of Phillips 66 Partners by 524.6% in the second quarter. Westwood Holdings Group Inc. now owns 1,092,365 shares of the company’s stock worth $61,030,000 after buying an additional 917,475 shares during the period.
About Phillips 66 Partners
Phillips 66 Partners LP owns, operates, develops and acquires fee-based crude oil, refined petroleum product and natural gas liquids (NGL) pipelines, terminals and other transportation and midstream assets. The Company charges tariffs and fees for transporting crude oil and refined petroleum product pipeline, terminal, rail rack and storage systems in the Central, Gulf Coast, Atlantic Basin and Western regions of the United States.
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