ValuEngine Downgrades Phillips 66 Partners (PSXP) to Sell

Phillips 66 Partners (NYSE:PSXP) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, ValuEngine reports.

Several other equities research analysts have also issued reports on PSXP. Jefferies Financial Group raised shares of Phillips 66 Partners from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. Bank of America reaffirmed a “neutral” rating and issued a $53.00 price objective (up previously from $46.00) on shares of Phillips 66 Partners in a research note on Thursday, February 7th. Stifel Nicolaus lowered shares of Phillips 66 Partners from a “buy” rating to a “hold” rating and lifted their price objective for the company from $50.00 to $52.00 in a research note on Monday, February 11th. Credit Suisse Group reduced their price objective on shares of Phillips 66 Partners from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, February 11th. Finally, Zacks Investment Research lowered shares of Phillips 66 Partners from a “buy” rating to a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Phillips 66 Partners presently has a consensus rating of “Hold” and an average price target of $56.55.

Shares of PSXP stock traded down $0.26 on Monday, hitting $50.79. The company’s stock had a trading volume of 215,800 shares, compared to its average volume of 349,031. The company has a current ratio of 0.48, a quick ratio of 0.43 and a debt-to-equity ratio of 1.70. Phillips 66 Partners has a fifty-two week low of $40.76 and a fifty-two week high of $55.02. The firm has a market cap of $6.33 billion, a PE ratio of 12.70, a PEG ratio of 1.66 and a beta of 1.23.

Phillips 66 Partners (NYSE:PSXP) last released its quarterly earnings data on Friday, February 8th. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.01). Phillips 66 Partners had a net margin of 53.57% and a return on equity of 48.73%. The business had revenue of $393.00 million during the quarter, compared to analyst estimates of $375.17 million. During the same period in the previous year, the firm posted $0.83 EPS. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. As a group, analysts forecast that Phillips 66 Partners will post 4.41 EPS for the current fiscal year.

In other news, Director Mark Haney bought 1,392 shares of the business’s stock in a transaction on Wednesday, January 16th. The stock was purchased at an average price of $49.31 per share, with a total value of $68,639.52. Following the transaction, the director now directly owns 28,000 shares in the company, valued at $1,380,680. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

A number of institutional investors have recently added to or reduced their stakes in PSXP. Ffcm LLC lifted its position in Phillips 66 Partners by 50.0% during the 4th quarter. Ffcm LLC now owns 675 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 225 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in shares of Phillips 66 Partners during the 4th quarter worth about $29,000. Lindbrook Capital LLC bought a new position in shares of Phillips 66 Partners during the 4th quarter worth about $34,000. Arlington Partners LLC bought a new position in shares of Phillips 66 Partners during the 4th quarter worth about $113,000. Finally, Advisor Group Inc. increased its holdings in shares of Phillips 66 Partners by 25.1% during the 4th quarter. Advisor Group Inc. now owns 6,035 shares of the oil and gas company’s stock worth $252,000 after purchasing an additional 1,210 shares during the period. 42.83% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Partners Company Profile

Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids 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, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles and Wood River; and natural gas liquids assets in Texas and Louisiana.

Further Reading: Yield Curve

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Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

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