Phillips 66 Partners (PSXP) Now Covered by Credit Suisse Group

Credit Suisse Group started coverage on shares of Phillips 66 Partners (NYSE:PSXP) in a research note published on Thursday, January 4th, MarketBeat reports. The firm issued a neutral rating and a $52.00 price target on the oil and gas company’s stock.

A number of other equities research analysts have also recently commented on PSXP. Stifel Nicolaus reiterated a buy rating and issued a $60.00 target price (down from $61.00) on shares of Phillips 66 Partners in a research report on Monday, September 25th. BidaskClub raised shares of Phillips 66 Partners from a hold rating to a buy rating in a report on Thursday, September 28th. Royal Bank of Canada reissued a buy rating and issued a $63.00 price objective on shares of Phillips 66 Partners in a report on Tuesday, October 3rd. Jefferies Group reissued a hold rating and issued a $51.00 price objective on shares of Phillips 66 Partners in a report on Monday, October 16th. Finally, Goldman Sachs Group raised shares of Phillips 66 Partners from a sell rating to a neutral rating and set a $59.00 price objective for the company in a report on Tuesday, October 17th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Phillips 66 Partners currently has a consensus rating of Buy and an average target price of $58.30.

Phillips 66 Partners (NYSE PSXP) opened at $55.15 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.56 and a debt-to-equity ratio of 1.28. The firm has a market cap of $6,700.00, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 1.39 and a beta of 1.47. Phillips 66 Partners has a 12-month low of $44.40 and a 12-month high of $58.00.

Phillips 66 Partners (NYSE:PSXP) last issued its earnings results on Friday, October 27th. The oil and gas company reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.08). The business had revenue of $245.00 million during the quarter, compared to analyst estimates of $236.18 million. Phillips 66 Partners had a net margin of 42.19% and a return on equity of 23.56%. Phillips 66 Partners’s quarterly revenue was up 69.8% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. equities analysts predict that Phillips 66 Partners will post 2.59 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. CNH Partners LLC boosted its stake in shares of 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 valued at $417,000 after purchasing an additional 200 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of 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 valued at $165,000 after purchasing an additional 234 shares during the period. Keybank National Association OH boosted its stake in shares of Phillips 66 Partners by 5.9% in the second quarter. Keybank National Association OH now owns 5,105 shares of the oil and gas company’s stock valued at $252,000 after purchasing an additional 285 shares during the period. ELCO Management Co. LLC boosted its stake in shares of Phillips 66 Partners by 5.1% in the second quarter. ELCO Management Co. LLC now owns 6,235 shares of the oil and gas company’s stock valued at $308,000 after purchasing an additional 305 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of 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 valued at $4,360,000 after purchasing an additional 587 shares during the period. 37.17% of the stock is owned by institutional investors.

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