Phillips 66 Partners (NYSE:PSXP) was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report issued on Monday, Marketbeat Ratings reports. They currently have a $52.00 target price on the oil and gas company’s stock, up from their prior target price of $50.00. Stifel Nicolaus’ price target points to a potential upside of 3.15% from the stock’s previous close.

A number of other research analysts also recently weighed in on PSXP. Bank of America reiterated a “neutral” rating and issued a $53.00 price objective (up previously from $46.00) on shares of Phillips 66 Partners in a research report on Thursday, February 7th. ValuEngine upgraded shares of Phillips 66 Partners from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Jefferies Financial Group upgraded shares of Phillips 66 Partners from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. Raymond James upped their price objective on shares of Phillips 66 Partners from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, October 29th. Finally, Wells Fargo & Co decreased their price objective on shares of Phillips 66 Partners from $57.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Phillips 66 Partners has an average rating of “Hold” and a consensus price target of $56.54.

Shares of Phillips 66 Partners stock opened at $50.41 on Monday. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.70 and a beta of 1.34. Phillips 66 Partners has a fifty-two week low of $40.76 and a fifty-two week high of $55.00. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.00 and a quick ratio of 0.95.

Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings data on Friday, February 8th. The oil and gas company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.01). The firm had revenue of $393.00 million during the quarter, compared to analyst estimates of $375.17 million. Phillips 66 Partners had a return on equity of 50.05% and a net margin of 53.57%. The company’s revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the company posted $0.83 EPS. On average, sell-side analysts predict that Phillips 66 Partners will post 4.12 earnings per share for the current year.

In related news, Director Mark Haney purchased 1,392 shares of Phillips 66 Partners stock in a transaction that occurred on Wednesday, January 16th. The stock was purchased at an average price of $49.31 per share, for a total transaction 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 document filed with the SEC, which is available at this link. Also, Director Joseph O’toole purchased 10,000 shares of Phillips 66 Partners stock in a transaction that occurred on Wednesday, November 28th. The shares were bought at an average price of $46.96 per share, with a total value of $469,600.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $469,600. The disclosure for this purchase can be found here.

A number of hedge funds have recently added to or reduced their stakes in PSXP. California Public Employees Retirement System raised its holdings in Phillips 66 Partners by 1.6% in the 2nd quarter. California Public Employees Retirement System now owns 78,667 shares of the oil and gas company’s stock valued at $4,017,000 after acquiring an additional 1,267 shares during the last quarter. Jane Street Group LLC acquired a new stake in Phillips 66 Partners in the 2nd quarter valued at about $214,000. Northern Trust Corp raised its holdings in Phillips 66 Partners by 18.3% in the 2nd quarter. Northern Trust Corp now owns 38,805 shares of the oil and gas company’s stock valued at $1,981,000 after acquiring an additional 6,000 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Phillips 66 Partners by 5.0% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 144,280 shares of the oil and gas company’s stock valued at $7,378,000 after acquiring an additional 6,900 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in Phillips 66 Partners in the 3rd quarter valued at about $3,514,000. Institutional investors own 44.32% 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 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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Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

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