Phillips 66 Partners LP (PSXP) Stake Lessened by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC reduced its stake in Phillips 66 Partners LP (NYSE:PSXP) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,880,910 shares of the oil and gas company’s stock after selling 14,161 shares during the period. Phillips 66 Partners accounts for 3.1% of Chickasaw Capital Management LLC’s holdings, making the stock its 14th biggest holding. Chickasaw Capital Management LLC owned 2.37% of Phillips 66 Partners worth $150,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Alps Advisors Inc. boosted its stake in Phillips 66 Partners by 17.7% in the third quarter. Alps Advisors Inc. now owns 3,779,089 shares of the oil and gas company’s stock valued at $198,629,000 after acquiring an additional 568,798 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Phillips 66 Partners by 0.6% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,165,211 shares of the oil and gas company’s stock valued at $57,585,000 after buying an additional 7,104 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Phillips 66 Partners by 33.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 851,747 shares of the oil and gas company’s stock worth $44,955,000 after purchasing an additional 215,461 shares in the last quarter. Brookfield Asset Management Inc. lifted its stake in Phillips 66 Partners by 3.1% in the 2nd quarter. Brookfield Asset Management Inc. now owns 566,500 shares of the oil and gas company’s stock worth $27,996,000 after purchasing an additional 16,900 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC lifted its stake in Phillips 66 Partners by 22.1% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 506,352 shares of the oil and gas company’s stock worth $26,614,000 after purchasing an additional 91,610 shares in the last quarter. 37.16% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on PSXP shares. Morgan Stanley decreased their price target on shares of Phillips 66 Partners from $56.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, November 17th. Goldman Sachs Group raised shares of Phillips 66 Partners from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Monday, December 18th. Royal Bank of Canada reissued a “buy” rating and set a $63.00 price target on shares of Phillips 66 Partners in a research report on Tuesday, November 7th. Mizuho set a $59.00 price target on shares of Phillips 66 Partners and gave the company a “buy” rating in a research report on Sunday, October 29th. Finally, Scotiabank restated a “buy” rating and set a $61.00 price objective on shares of Phillips 66 Partners in a research note on Wednesday, October 25th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $58.30.

Shares of Phillips 66 Partners LP (NYSE:PSXP) opened at $55.15 on Monday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.64 and a quick ratio of 0.56. Phillips 66 Partners LP has a 1 year low of $44.40 and a 1 year high of $58.00. The firm has a market cap of $6,704.70, a price-to-earnings ratio of 23.27, a P/E/G ratio of 1.41 and a beta of 1.46.

Phillips 66 Partners (NYSE:PSXP) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.08). The firm had revenue of $245.00 million for the quarter, compared to the consensus estimate of $236.18 million. Phillips 66 Partners had a net margin of 42.19% and a return on equity of 23.56%. The company’s revenue was up 69.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. analysts forecast that Phillips 66 Partners LP will post 2.59 EPS for the current fiscal year.

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About Phillips 66 Partners

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

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