NN Investment Partners Holdings N.V. lessened its stake in Phillips 66 Partners LP (NYSE:PSXP) by 90.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 855 shares of the oil and gas company’s stock after selling 8,523 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Phillips 66 Partners were worth $31,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of PSXP. Geode Capital Management LLC bought a new position in Phillips 66 Partners in the fourth quarter valued at approximately $207,000. Efficient Wealth Management LLC bought a new position in Phillips 66 Partners in the first quarter valued at approximately $55,000. Arlington Partners LLC lifted its stake in Phillips 66 Partners by 70.0% in the first quarter. Arlington Partners LLC now owns 4,545 shares of the oil and gas company’s stock valued at $166,000 after buying an additional 1,871 shares in the last quarter. Raymond James & Associates lifted its stake in Phillips 66 Partners by 4.8% in the first quarter. Raymond James & Associates now owns 37,393 shares of the oil and gas company’s stock valued at $1,362,000 after buying an additional 1,697 shares in the last quarter. Finally, LexAurum Advisors LLC lifted its stake in Phillips 66 Partners by 150.0% in the first quarter. LexAurum Advisors LLC now owns 25,000 shares of the oil and gas company’s stock valued at $911,000 after buying an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 24.16% of the company’s stock.
PSXP has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on shares of Phillips 66 Partners from $54.00 to $52.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Raymond James cut their price objective on shares of Phillips 66 Partners from $52.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 21st. Wells Fargo & Co lowered shares of Phillips 66 Partners from an “overweight” rating to an “equal weight” rating and set a $34.00 price objective on the stock. in a research report on Wednesday, July 22nd. Citigroup cut their price objective on shares of Phillips 66 Partners from $55.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. Finally, Stifel Nicolaus lowered their target price on shares of Phillips 66 Partners from $48.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, May 4th. One investment analyst has rated the stock with a sell rating, four have assigned 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 $47.27.
NYSE:PSXP opened at $27.80 on Friday. Phillips 66 Partners LP has a one year low of $19.00 and a one year high of $65.22. The company has a market cap of $6.35 billion, a P/E ratio of 6.85 and a beta of 1.33. The firm’s fifty day moving average price is $33.94 and its two-hundred day moving average price is $44.42. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.05 and a quick ratio of 0.99.
Phillips 66 Partners (NYSE:PSXP) last announced its earnings results on Friday, July 31st. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.30. The company had revenue of $430.00 million during the quarter, compared to analysts’ expectations of $361.25 million. Phillips 66 Partners had a net margin of 54.94% and a return on equity of 45.19%. Phillips 66 Partners’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.15 earnings per share. As a group, equities research analysts expect that Phillips 66 Partners LP will post 3.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Friday, July 31st will be given a $0.875 dividend. The ex-dividend date is Thursday, July 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 12.59%. Phillips 66 Partners’s payout ratio is presently 81.59%.
Phillips 66 Partners Profile
Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids (NGL) pipelines, terminals, and other transportation and midstream assets. The company operates pipeline assets in Lake Charles, Sweeny, Wood River, Borger/Ponca City, Billings, and Borger; terminal, rail rack, and storage assets in Louisiana, Texas, New Mexico, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles, Bayway, and Wood River; and NGL assets in Texas and Louisiana.
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