Phillips 66 Partners LP (NYSE:PSXP) Rating Reiterated by Royal Bank Of Canada

Phillips 66 Partners LP (NYSE:PSXP)‘s stock had its “buy” rating reaffirmed by equities researchers at Royal Bank Of Canada in a report released on Tuesday, November 7th. They currently have a $63.00 target price on the oil and gas company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 33.14% from the company’s current price.

PSXP has been the topic of several other research reports. Mizuho set a $59.00 target price on shares of Phillips 66 Partners and gave the stock a “buy” rating in a report on Sunday, October 29th. BidaskClub upgraded shares of Phillips 66 Partners from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Morgan Stanley reiterated an “overweight” rating on shares of Phillips 66 Partners in a research report on Tuesday, September 5th. Stifel Nicolaus restated a “buy” rating and issued a $63.00 price target on shares of Phillips 66 Partners in a research report on Friday, July 28th. Finally, Scotiabank restated a “buy” rating and issued a $61.00 price target on shares of Phillips 66 Partners in a research report on Wednesday, October 25th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $58.89.

Shares of Phillips 66 Partners (NYSE:PSXP) opened at $47.32 on Tuesday. The stock has a market cap of $5,750.46, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.52. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.56 and a current ratio of 0.64. Phillips 66 Partners has a 52 week low of $43.23 and a 52 week high of $58.00.

Phillips 66 Partners (NYSE:PSXP) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.08). The business 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 firm’s revenue for the quarter was up 69.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 EPS. equities research analysts expect that Phillips 66 Partners will post 2.62 earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in the company. CNH Partners LLC boosted its holdings in Phillips 66 Partners by 2.4% during the second quarter. CNH Partners LLC now owns 8,445 shares of the oil and gas company’s stock worth $417,000 after purchasing an additional 200 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Phillips 66 Partners by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 3,342 shares of the oil and gas company’s stock worth $165,000 after purchasing an additional 234 shares during the last quarter. Keybank National Association OH boosted its holdings in Phillips 66 Partners by 5.9% during the second quarter. Keybank National Association OH now owns 5,105 shares of the oil and gas company’s stock worth $252,000 after purchasing an additional 285 shares during the last quarter. ELCO Management Co. LLC boosted its holdings in Phillips 66 Partners by 5.1% during the second quarter. ELCO Management Co. LLC now owns 6,235 shares of the oil and gas company’s stock worth $308,000 after purchasing an additional 305 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in Phillips 66 Partners by 1.3% during the second quarter. Parkside Financial Bank & Trust now owns 25,245 shares of the oil and gas company’s stock worth $1,248,000 after purchasing an additional 330 shares during the last quarter. Institutional investors own 30.86% of the company’s stock.

Phillips 66 Partners Company Profile

Analyst Recommendations for Phillips 66 Partners (NYSE:PSXP)

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