Phillips 66 Partners LP (PSXP) Holdings Trimmed by Spirit of America Management Corp NY

Spirit of America Management Corp NY lessened its holdings in shares of Phillips 66 Partners LP (NYSE:PSXP) by 1.4% during the first quarter, Holdings Channel reports. The institutional investor owned 337,939 shares of the oil and gas company’s stock after selling 4,700 shares during the quarter. Phillips 66 Partners accounts for approximately 2.6% of Spirit of America Management Corp NY’s portfolio, making the stock its 7th largest position. Spirit of America Management Corp NY’s holdings in Phillips 66 Partners were worth $17,691,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PSXP. Ffcm LLC grew its position in shares of Phillips 66 Partners by 50.0% in the fourth quarter. Ffcm LLC now owns 675 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 225 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Phillips 66 Partners in the fourth quarter valued at approximately $29,000. Lindbrook Capital LLC acquired a new position in shares of Phillips 66 Partners in the fourth quarter valued at approximately $34,000. Arlington Partners LLC acquired a new position in shares of Phillips 66 Partners in the fourth quarter valued at approximately $113,000. Finally, Advisor Group Inc. grew its position in shares of Phillips 66 Partners by 25.1% in the fourth quarter. Advisor Group Inc. now owns 6,035 shares of the oil and gas company’s stock valued at $252,000 after purchasing an additional 1,210 shares during the last quarter. 42.79% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on the company. Zacks Investment Research raised Phillips 66 Partners from a “hold” rating to a “strong-buy” rating and set a $59.00 target price on the stock in a research report on Tuesday. ValuEngine raised Phillips 66 Partners from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Credit Suisse Group reduced their price target on Phillips 66 Partners from $61.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, February 11th. Jefferies Financial Group raised Phillips 66 Partners from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. Finally, Bank of America reissued a “neutral” rating and set a $53.00 price target (up previously from $46.00) on shares of Phillips 66 Partners in a research report on Thursday, February 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $56.73.

NYSE:PSXP traded down $0.34 during trading hours on Wednesday, reaching $50.05. 2,803 shares of the company were exchanged, compared to its average volume of 305,125. The company has a market capitalization of $6.30 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.64 and a beta of 1.23. Phillips 66 Partners LP has a 1-year low of $40.76 and a 1-year high of $55.02. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.48 and a quick ratio of 0.43.

Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings results on Friday, February 8th. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.01). The company had revenue of $393.00 million for the quarter, compared to analyst estimates of $375.17 million. Phillips 66 Partners had a return on equity of 48.73% and a net margin of 53.57%. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.83 EPS. On average, sell-side analysts anticipate that Phillips 66 Partners LP will post 4.43 EPS for the current fiscal year.

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Phillips 66 Partners Profile

Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids 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, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles and Wood River; and natural gas liquids assets in Texas and Louisiana.

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

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