Phillips 66 Partners LP (NYSE:PSXP) Given New $64.00 Price Target at Citigroup Inc.

Phillips 66 Partners LP (NYSE:PSXP) had its price objective boosted by Citigroup Inc. from $60.00 to $64.00 in a research note released on Wednesday, October 18th. Citigroup Inc. currently has a buy rating on the oil and gas company’s stock.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus set a $63.00 target price on Phillips 66 Partners and gave the company a buy rating in a research note on Saturday, June 24th. Scotiabank set a $61.00 target price on Phillips 66 Partners and gave the company a buy rating in a research note on Friday, July 21st. Royal Bank Of Canada restated a buy rating and issued a $63.00 target price on shares of Phillips 66 Partners in a research note on Tuesday, October 3rd. BidaskClub upgraded Phillips 66 Partners from a hold rating to a buy rating in a research note on Thursday, September 28th. Finally, Jefferies Group LLC reiterated a hold rating and set a $51.00 price objective on shares of Phillips 66 Partners in a research note on Monday, October 16th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $59.38.

Phillips 66 Partners (NYSE PSXP) traded up $0.35 on Wednesday, hitting $50.12. The stock had a trading volume of 305,005 shares, compared to its average volume of 228,346. The company has a current ratio of 0.64, a quick ratio of 0.56 and a debt-to-equity ratio of 1.28. Phillips 66 Partners has a 52 week low of $43.23 and a 52 week high of $58.00. The stock has a market cap of $5,499.86, a PE ratio of 21.00, a PEG ratio of 1.58 and a beta of 1.52.

Phillips 66 Partners (NYSE:PSXP) last issued 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 business had revenue of $245.00 million during the quarter, compared to the consensus estimate of $236.18 million. Phillips 66 Partners had a return on equity of 23.56% and a net margin of 42.19%. Phillips 66 Partners’s quarterly revenue was up 69.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share. sell-side analysts predict that Phillips 66 Partners will post 2.63 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by BBNS and is owned by of BBNS. If you are viewing this report on another domain, it was copied illegally and republished in violation of US & international trademark and copyright laws. The legal version of this report can be accessed at https://baseballnewssource.com/markets/phillips-66-partners-lp-psxp-price-target-increased-to-64-00-by-analysts-at-citigroup-inc/1723008.html.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.646 per share. This represents a $2.58 annualized dividend and a yield of 5.16%. The ex-dividend date is Monday, October 30th. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.62. Phillips 66 Partners’s payout ratio is currently 108.86%.

A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA grew its holdings in Phillips 66 Partners by 48.8% during the third quarter. BNP Paribas Arbitrage SA now owns 10,860 shares of the oil and gas company’s stock valued at $571,000 after purchasing an additional 3,560 shares during the period. Global X MANAGEMENT CO LLC lifted its position in shares of Phillips 66 Partners by 22.1% in the third quarter. Global X MANAGEMENT CO LLC now owns 506,352 shares of the oil and gas company’s stock valued at $26,614,000 after acquiring an additional 91,610 shares in the last quarter. Alps Advisors Inc. lifted its position in shares of 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 in the last quarter. Keybank National Association OH lifted its position in shares of Phillips 66 Partners by 71.1% in the third quarter. Keybank National Association OH now owns 8,735 shares of the oil and gas company’s stock valued at $459,000 after acquiring an additional 3,630 shares in the last quarter. Finally, Conning Inc. lifted its position in shares of Phillips 66 Partners by 5.0% in the third quarter. Conning Inc. now owns 46,990 shares of the oil and gas company’s stock valued at $2,470,000 after acquiring an additional 2,246 shares in the last quarter. 40.30% of the stock is owned by institutional investors and hedge funds.

About Phillips 66 Partners

Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

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

 


Latest News

Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts


Leave a Reply

 
© 2006-2017 BBNS.