Phillips 66 Partners (NYSE:PSXP) Downgraded by ValuEngine to Strong Sell

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Phillips 66 Partners (NYSE:PSXP) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday, ValuEngine reports.

Other equities analysts have also recently issued research reports about the stock. Citigroup upped their price target on shares of Phillips 66 Partners from $56.50 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Bank of America upped their price target on shares of Phillips 66 Partners from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Barclays set a $58.00 price target on shares of Phillips 66 Partners and gave the stock a “hold” rating in a research note on Friday, October 25th. Zacks Investment Research upgraded shares of Phillips 66 Partners from a “strong sell” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Wednesday, October 30th. Finally, Raymond James upped their price target on shares of Phillips 66 Partners from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $59.44.

Phillips 66 Partners stock traded up $0.21 during mid-day trading on Friday, reaching $54.57. The stock had a trading volume of 295,334 shares, compared to its average volume of 376,119. The company has a market capitalization of $12.41 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 3.05 and a beta of 0.89. The company has a 50-day moving average price of $55.95 and a two-hundred day moving average price of $52.58. Phillips 66 Partners has a one year low of $40.76 and a one year high of $59.75. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.51 and a quick ratio of 1.49.

In related news, Director Phillip David Bairrington bought 613 shares of the stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $52.11 per share, for a total transaction of $31,943.43. Following the purchase, the director now owns 10,626 shares of the company’s stock, valued at $553,720.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Institutional investors and hedge funds have recently bought and sold shares of the business. Stokes Capital Advisors LLC increased its position in shares of Phillips 66 Partners by 4.4% during the 3rd quarter. Stokes Capital Advisors LLC now owns 4,795 shares of the oil and gas company’s stock valued at $271,000 after purchasing an additional 200 shares during the last quarter. FTB Advisors Inc. increased its position in shares of Phillips 66 Partners by 30.2% during the 3rd quarter. FTB Advisors Inc. now owns 954 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 221 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Phillips 66 Partners by 47.6% during the 2nd quarter. Lindbrook Capital LLC now owns 1,240 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 400 shares during the last quarter. Lenox Wealth Advisors LLC purchased a new stake in shares of Phillips 66 Partners during the 3rd quarter valued at about $25,000. Finally, Keybank National Association OH increased its position in shares of Phillips 66 Partners by 6.5% during the 2nd quarter. Keybank National Association OH now owns 7,691 shares of the oil and gas company’s stock valued at $380,000 after purchasing an additional 470 shares during the last quarter. Institutional investors and hedge funds own 42.68% 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.

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Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

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