Clinton Group Inc. purchased a new position in shares of Phillips 66 Partners LP (NYSE:PSXP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,041 shares of the oil and gas company’s stock, valued at approximately $411,000.

Other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN grew its position in Phillips 66 Partners by 8.4% during the first quarter. Wells Fargo & Company MN now owns 283,561 shares of the oil and gas company’s stock worth $13,548,000 after buying an additional 22,019 shares during the period. Kayne Anderson Capital Advisors LP grew its position in Phillips 66 Partners by 6.8% during the first quarter. Kayne Anderson Capital Advisors LP now owns 2,609,681 shares of the oil and gas company’s stock worth $124,674,000 after buying an additional 165,210 shares during the period. BlackRock Inc. grew its position in Phillips 66 Partners by 0.6% during the first quarter. BlackRock Inc. now owns 172,616 shares of the oil and gas company’s stock worth $8,248,000 after buying an additional 1,025 shares during the period. PNC Financial Services Group Inc. grew its position in Phillips 66 Partners by 5.7% during the first quarter. PNC Financial Services Group Inc. now owns 55,117 shares of the oil and gas company’s stock worth $2,632,000 after buying an additional 2,978 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in Phillips 66 Partners by 33.6% during the first quarter. BNP Paribas Arbitrage SA now owns 20,653 shares of the oil and gas company’s stock worth $987,000 after buying an additional 5,193 shares during the period. Institutional investors and hedge funds own 41.94% of the company’s stock.

Shares of NYSE PSXP opened at $51.34 on Friday. Phillips 66 Partners LP has a 12-month low of $44.40 and a 12-month high of $56.48. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 1.97 and a beta of 1.39. The company has a current ratio of 1.25, a quick ratio of 1.19 and a debt-to-equity ratio of 1.84.

Phillips 66 Partners (NYSE:PSXP) last announced its quarterly earnings data on Friday, July 27th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.05. The business had revenue of $354.00 million for the quarter, compared to the consensus estimate of $344.16 million. Phillips 66 Partners had a net margin of 48.17% and a return on equity of 39.53%. The company’s quarterly revenue was up 51.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 earnings per share. On average, equities analysts predict that Phillips 66 Partners LP will post 3.76 EPS for the current fiscal year.

PSXP has been the topic of several recent research reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $55.00 price target on shares of Phillips 66 Partners in a report on Friday, September 28th. ValuEngine raised shares of Phillips 66 Partners from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Zacks Investment Research downgraded shares of Phillips 66 Partners from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Credit Suisse Group initiated coverage on shares of Phillips 66 Partners in a report on Thursday. They issued an “outperform” rating and a $66.00 price target on the stock. Finally, Bank of America reduced their price target on shares of Phillips 66 Partners from $65.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $58.04.

Phillips 66 Partners 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.

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Institutional Ownership by Quarter for Phillips 66 Partners (NYSE:PSXP)

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