Phillips 66 Partners LP (NYSE:PSXP) Stock Holdings Lessened by SG Americas Securities LLC

SG Americas Securities LLC decreased its position in Phillips 66 Partners LP (NYSE:PSXP) by 28.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,330 shares of the oil and gas company’s stock after selling 6,070 shares during the quarter. SG Americas Securities LLC’s holdings in Phillips 66 Partners were worth $550,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PSXP. Envestnet Asset Management Inc. bought a new stake in Phillips 66 Partners during the second quarter valued at about $326,000. BNP Paribas Arbitrage SA raised its position in shares of Phillips 66 Partners by 9.0% during the second quarter. BNP Paribas Arbitrage SA now owns 24,377 shares of the oil and gas company’s stock valued at $962,000 after buying an additional 2,009 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Phillips 66 Partners by 31.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 10,855 shares of the oil and gas company’s stock valued at $428,000 after buying an additional 2,597 shares during the last quarter. Cresset Asset Management LLC acquired a new position in shares of Phillips 66 Partners during the second quarter valued at about $227,000. Finally, Deutsche Bank AG raised its position in shares of Phillips 66 Partners by 76.0% during the second quarter. Deutsche Bank AG now owns 688,348 shares of the oil and gas company’s stock valued at $27,161,000 after buying an additional 297,333 shares during the last quarter. Institutional investors own 17.20% of the company’s stock.

PSXP has been the subject of several recent analyst reports. Mizuho raised their price objective on shares of Phillips 66 Partners from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday. Barclays raised their price objective on shares of Phillips 66 Partners from $38.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 6th. Raymond James cut shares of Phillips 66 Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, November 1st. Credit Suisse Group cut shares of Phillips 66 Partners from an “outperform” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research note on Thursday, October 28th. Finally, Zacks Investment Research raised shares of Phillips 66 Partners from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Monday, October 4th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $40.17.

Shares of Phillips 66 Partners stock opened at $44.38 on Friday. Phillips 66 Partners LP has a 1 year low of $24.21 and a 1 year high of $44.46. The business has a 50-day moving average of $37.34 and a two-hundred day moving average of $37.22. The company has a market capitalization of $10.13 billion, a P/E ratio of 20.36 and a beta of 1.15. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.31 and a quick ratio of 0.26.

Phillips 66 Partners (NYSE:PSXP) last announced its quarterly earnings results on Thursday, October 28th. The oil and gas company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.01. Phillips 66 Partners had a return on equity of 38.06% and a net margin of 33.70%. The company had revenue of $452.00 million during the quarter, compared to the consensus estimate of $421.57 million. During the same period in the prior year, the company earned $0.85 earnings per share. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities analysts anticipate that Phillips 66 Partners LP will post 3.65 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 12th. Shareholders of record on Friday, October 29th were issued a $0.875 dividend. This is an increase from Phillips 66 Partners’s previous quarterly dividend of $0.37. This represents a $3.50 annualized dividend and a dividend yield of 7.89%. The ex-dividend date was Thursday, October 28th. Phillips 66 Partners’s dividend payout ratio is 160.55%.

Phillips 66 Partners Profile

Phillips 66 Partners LP engages in the ownership, operation, development, and acquisition of crude oil, refined petroleum product and natural gas liquids pipelines and terminals, and other transportation and midstream assets. It also provides terminals and storages for oil and petroleum products. The company was founded on February 20, 2013 and is headquartered in Houston, TX.

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

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