Analysts expect Phillips 66 Partners LP (NYSE:PSXP) to report sales of $344.79 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Phillips 66 Partners’ earnings, with estimates ranging from $312.20 million to $382.07 million. Phillips 66 Partners reported sales of $228.00 million in the same quarter last year, which indicates a positive year over year growth rate of 51.2%. The company is expected to report its next earnings report before the market opens on Friday, February 2nd.
According to Zacks, analysts expect that Phillips 66 Partners will report full-year sales of $344.79 million for the current year, with estimates ranging from $922.52 million to $1.10 billion. For the next financial year, analysts expect that the firm will report sales of $1.36 billion per share, with estimates ranging from $1.02 billion to $1.62 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Phillips 66 Partners.
Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.08). The business had revenue of $245.00 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 69.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS.
PSXP has been the topic of a number of research analyst reports. Bank of America initiated coverage on Phillips 66 Partners in a report on Tuesday. They set a “neutral” rating on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $63.00 target price on shares of Phillips 66 Partners in a report on Tuesday, October 3rd. Mizuho set a $59.00 target price on Phillips 66 Partners and gave the stock a “buy” rating in a report on Sunday, October 29th. Scotiabank reaffirmed a “buy” rating and set a $61.00 target price on shares of Phillips 66 Partners in a report on Wednesday, October 25th. Finally, BidaskClub raised Phillips 66 Partners from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Phillips 66 Partners has a consensus rating of “Buy” and a consensus target price of $58.30.
Shares of Phillips 66 Partners (NYSE:PSXP) traded up $0.69 on Friday, reaching $55.15. The company had a trading volume of 320,591 shares, compared to its average volume of 333,465. The stock has a market capitalization of $6,700.00, a P/E ratio of 23.37, a P/E/G ratio of 1.39 and a beta of 1.47. Phillips 66 Partners has a 1 year low of $44.40 and a 1 year high of $58.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.64 and a quick ratio of 0.56.
Several institutional investors have recently made changes to their positions in the company. Atlantic Trust Group LLC raised its position in shares of Phillips 66 Partners by 71.0% during the 3rd quarter. Atlantic Trust Group LLC now owns 149,940 shares of the oil and gas company’s stock worth $7,882,000 after purchasing an additional 62,279 shares during the period. Institutional & Family Asset Management LLC acquired a new stake in shares of Phillips 66 Partners during the 3rd quarter worth approximately $2,399,000. California Public Employees Retirement System raised its position in shares of Phillips 66 Partners by 2.9% during the 3rd quarter. California Public Employees Retirement System now owns 86,116 shares of the oil and gas company’s stock worth $4,526,000 after purchasing an additional 2,416 shares during the period. Caxton Associates LP acquired a new stake in shares of Phillips 66 Partners during the 3rd quarter worth approximately $2,093,000. Finally, Cohen & Steers Inc. raised its position in shares of Phillips 66 Partners by 123,437.5% during the 3rd quarter. Cohen & Steers Inc. now owns 98,830 shares of the oil and gas company’s stock worth $5,195,000 after purchasing an additional 98,750 shares during the period. Institutional investors and hedge funds own 37.17% of the company’s stock.
Phillips 66 Partners Company Profile
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