Phillips 66 Partners LP (NYSE:PSXP) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday.

A number of other research firms have also recently weighed in on PSXP. Barclays PLC raised Phillips 66 Partners from an “equal weight” rating to an “overweight” rating and set a $61.00 price target for the company in a report on Tuesday, July 18th. Stifel Nicolaus set a $63.00 price target on Phillips 66 Partners and gave the stock a “buy” rating in a report on Saturday, June 24th. Citigroup Inc. reduced their price target on Phillips 66 Partners from $63.00 to $60.00 and set a “buy” rating for the company in a report on Monday, July 17th. Finally, Scotiabank set a $61.00 price target on Phillips 66 Partners and gave the stock a “buy” rating in a report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $56.44.

Phillips 66 Partners (PSXP) traded up 0.58% on Friday, reaching $46.53. The company’s stock had a trading volume of 113,243 shares. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 19.19 and a beta of 1.51. The firm’s 50 day moving average price is $49.15 and its 200-day moving average price is $51.34. Phillips 66 Partners has a 1-year low of $42.47 and a 1-year high of $58.00.

Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.11. The company had revenue of $234 million during the quarter, compared to analyst estimates of $235.69 million. Phillips 66 Partners had a net margin of 45.35% and a return on equity of 23.01%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. Equities analysts forecast that Phillips 66 Partners will post $2.66 earnings per share for the current year.

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Large investors have recently bought and sold shares of the stock. Westwood Holdings Group Inc. raised its stake in Phillips 66 Partners by 0.6% in the second quarter. Westwood Holdings Group Inc. now owns 1,165,211 shares of the oil and gas company’s stock worth $57,585,000 after buying an additional 7,104 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Phillips 66 Partners by 0.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 88,229 shares of the oil and gas company’s stock worth $4,360,000 after buying an additional 587 shares during the period. The Manufacturers Life Insurance Company raised its stake in Phillips 66 Partners by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 3,342 shares of the oil and gas company’s stock worth $165,000 after buying an additional 234 shares during the period. NBW Capital LLC raised its stake in Phillips 66 Partners by 4.1% in the second quarter. NBW Capital LLC now owns 157,341 shares of the oil and gas company’s stock worth $7,776,000 after buying an additional 6,161 shares during the period. Finally, CNH Partners LLC raised its stake in Phillips 66 Partners by 2.4% in the second quarter. CNH Partners LLC now owns 8,445 shares of the oil and gas company’s stock worth $417,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 42.22% of the company’s stock.

Phillips 66 Partners Company Profile

Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

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