Phillips 66 Partners (PSXP) Downgraded by ValuEngine to Sell

Phillips 66 Partners (NYSE:PSXP) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Monday, April 15th, ValuEngine reports.

A number of other research firms also recently issued reports on PSXP. Stifel Nicolaus downgraded shares of Phillips 66 Partners from a “buy” rating to a “hold” rating and increased their price target for the stock from $50.00 to $52.00 in a research note on Monday, February 11th. Jefferies Financial Group downgraded shares of Phillips 66 Partners from a “buy” rating to a “hold” rating in a research note on Monday, January 28th. Bank of America reissued a “neutral” rating and issued a $53.00 price target (up from $46.00) on shares of Phillips 66 Partners in a research note on Thursday, February 7th. Zacks Investment Research downgraded shares of Phillips 66 Partners from a “buy” rating to a “hold” rating in a research note on Monday, April 15th. Finally, Credit Suisse Group decreased their price target 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.40.

NYSE PSXP traded down $0.26 during trading on Monday, hitting $49.36. 1,662 shares of the company’s stock traded hands, compared to its average volume of 354,515. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 1.94. Phillips 66 Partners has a 12-month low of $40.76 and a 12-month high of $55.02. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.62 and a beta of 1.19.

Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.06). The business had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $366.55 million. Phillips 66 Partners had a net margin of 52.90% and a return on equity of 47.98%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.87 earnings per share. Equities analysts expect that Phillips 66 Partners will post 4.39 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ffcm LLC raised its position in Phillips 66 Partners by 50.0% in the fourth 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 period. Patriot Financial Group Insurance Agency LLC raised its position in shares of Phillips 66 Partners by 100.0% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 600 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 300 shares during the period. Conning Inc. raised its position in shares of Phillips 66 Partners by 1.3% during the 1st quarter. Conning Inc. now owns 35,155 shares of the oil and gas company’s stock valued at $1,840,000 after purchasing an additional 439 shares during the period. SG Americas Securities LLC raised its position in shares of Phillips 66 Partners by 3.5% during the 1st quarter. SG Americas Securities LLC now owns 20,468 shares of the oil and gas company’s stock valued at $1,072,000 after purchasing an additional 698 shares during the period. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Phillips 66 Partners during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 43.25% of the company’s stock.

About Phillips 66 Partners

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.

Read More: What does relative strength index mean?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

Receive News & Ratings for Phillips 66 Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 Partners and related companies with MarketBeat.com's FREE daily email newsletter.