Phillips 66 Partners (NYSE:PSXP) was upgraded by research analysts at Goldman Sachs Group to a “buy” rating in a research report issued on Monday. The firm presently has a $60.00 price target on the oil and gas company’s stock. Goldman Sachs Group’s price objective would indicate a potential upside of 20.31% from the stock’s previous close.
A number of other brokerages have also recently commented on PSXP. Morgan Stanley reaffirmed an “overweight” rating on shares of Phillips 66 Partners in a research note on Tuesday, September 5th. BidaskClub raised Phillips 66 Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $63.00 price target on shares of Phillips 66 Partners in a research note on Tuesday, October 3rd. Stifel Nicolaus lowered their price target on Phillips 66 Partners from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, October 30th. Finally, Citigroup upped their price target on Phillips 66 Partners from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $59.00.
Shares of Phillips 66 Partners (PSXP) opened at $49.87 on Monday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.64 and a quick ratio of 0.56. The company has a market capitalization of $6,062.80, a PE ratio of 21.04, a PEG ratio of 1.59 and a beta of 1.46. Phillips 66 Partners has a 52 week low of $44.40 and a 52 week high of $58.00.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. increased its stake in Phillips 66 Partners by 0.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 8,034,708 shares of the oil and gas company’s stock worth $397,075,000 after purchasing an additional 58,854 shares in the last quarter. Morgan Stanley increased its stake in Phillips 66 Partners by 58.2% during the 3rd quarter. Morgan Stanley now owns 4,035,292 shares of the oil and gas company’s stock worth $196,117,000 after purchasing an additional 1,484,078 shares in the last quarter. Alps Advisors Inc. increased its stake in Phillips 66 Partners by 17.7% during the 3rd quarter. Alps Advisors Inc. now owns 3,779,089 shares of the oil and gas company’s stock worth $198,629,000 after purchasing an additional 568,798 shares in the last quarter. Center Coast Capital Advisors LP increased its stake in Phillips 66 Partners by 21.2% during the 3rd quarter. Center Coast Capital Advisors LP now owns 3,086,365 shares of the oil and gas company’s stock worth $149,997,000 after purchasing an additional 539,319 shares in the last quarter. Finally, Chickasaw Capital Management LLC increased its stake in Phillips 66 Partners by 3.8% during the 1st quarter. Chickasaw Capital Management LLC now owns 3,029,624 shares of the oil and gas company’s stock worth $155,571,000 after purchasing an additional 110,052 shares in the last quarter. 37.22% of the stock is owned by institutional investors and hedge funds.
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About Phillips 66 Partners
