Phillips 66 Partners LP (NYSE:PSXP) had its price target boosted by equities research analysts at Citigroup Inc. from $60.00 to $64.00 in a research report issued on Wednesday. The firm presently has a “buy” rating on the oil and gas company’s stock. Citigroup Inc.’s price objective indicates a potential upside of 24.54% from the stock’s previous close.

PSXP has been the subject of a number of other research reports. Barclays PLC raised shares of Phillips 66 Partners from an “equal weight” rating to an “overweight” rating and set a $61.00 target price for the company in a research report on Tuesday, July 18th. Stifel Nicolaus set a $63.00 price target on shares of Phillips 66 Partners and gave the company a “buy” rating in a research note on Saturday, June 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 price objective on shares of Phillips 66 Partners in a research note on Monday. BidaskClub lowered shares of Phillips 66 Partners from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Scotiabank set a $61.00 price objective on shares of Phillips 66 Partners and gave the stock a “buy” rating in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $59.86.

Shares of Phillips 66 Partners (NYSE:PSXP) opened at 51.39 on Wednesday. The stock’s 50 day moving average is $50.17 and its 200-day moving average is $50.00. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 21.19 and a beta of 1.54. Phillips 66 Partners has a 12-month low of $42.47 and a 12-month high of $58.00.

Phillips 66 Partners (NYSE:PSXP) last issued its earnings results on Tuesday, August 1st. The oil and gas company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.11). The company had revenue of $234.00 million during the quarter, compared to the consensus estimate of $235.69 million. Phillips 66 Partners had a return on equity of 23.01% and a net margin of 45.35%. Phillips 66 Partners’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, analysts expect that Phillips 66 Partners will post $2.65 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Yorkville Capital Management LLC lifted its holdings in Phillips 66 Partners by 304.1% during the second quarter. Yorkville Capital Management LLC now owns 60,492 shares of the oil and gas company’s stock valued at $2,990,000 after purchasing an additional 45,521 shares in the last quarter. Brookfield Asset Management Inc. lifted its holdings in Phillips 66 Partners by 3.1% during the second quarter. Brookfield Asset Management Inc. now owns 566,500 shares of the oil and gas company’s stock valued at $27,996,000 after purchasing an additional 16,900 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in Phillips 66 Partners by 0.6% during the second quarter. Westwood Holdings Group Inc. now owns 1,165,211 shares of the oil and gas company’s stock valued at $57,585,000 after purchasing an additional 7,104 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Phillips 66 Partners by 0.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 88,229 shares of the oil and gas company’s stock valued at $4,360,000 after purchasing an additional 587 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Phillips 66 Partners by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 3,342 shares of the oil and gas company’s stock valued at $165,000 after purchasing an additional 234 shares in the last quarter. 43.02% of the stock is currently owned by institutional investors and hedge funds.

About Phillips 66 Partners

Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

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