Yorkville Capital Management LLC cut its stake in Phillips 66 Partners LP (NYSE:PSXP) by 19.8% during the fourth quarter, Holdings Channel reports. The fund owned 46,754 shares of the oil and gas company’s stock after selling 11,525 shares during the quarter. Phillips 66 Partners comprises approximately 3.0% of Yorkville Capital Management LLC’s holdings, making the stock its 10th biggest position. Yorkville Capital Management LLC’s holdings in Phillips 66 Partners were worth $2,448,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atlantic Trust Group LLC increased its position in Phillips 66 Partners by 71.0% during the third quarter. Atlantic Trust Group LLC now owns 149,940 shares of the oil and gas company’s stock worth $7,882,000 after buying an additional 62,279 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Phillips 66 Partners by 2.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 90,245 shares of the oil and gas company’s stock worth $4,724,000 after buying an additional 1,815 shares during the last quarter. California Public Employees Retirement System increased its position in Phillips 66 Partners by 2.9% during the third quarter. California Public Employees Retirement System now owns 86,116 shares of the oil and gas company’s stock worth $4,526,000 after buying an additional 2,416 shares during the last quarter. BNP Paribas Arbitrage SA increased its position 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 worth $571,000 after buying an additional 3,560 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Phillips 66 Partners by 33.9% during the third quarter. JPMorgan Chase & Co. now owns 851,747 shares of the oil and gas company’s stock worth $44,955,000 after buying an additional 215,461 shares during the last quarter. 41.14% of the stock is currently owned by institutional investors and hedge funds.
Shares of Phillips 66 Partners LP (NYSE PSXP) traded down $0.59 during trading hours on Tuesday, hitting $47.79. The stock had a trading volume of 60,002 shares, compared to its average volume of 326,180. The firm has a market capitalization of $6,094.40, a P/E ratio of 18.97, a P/E/G ratio of 1.72 and a beta of 1.41. Phillips 66 Partners LP has a 12 month low of $44.40 and a 12 month high of $56.48. The company has a current ratio of 1.71, a quick ratio of 1.64 and a debt-to-equity ratio of 2.06.
Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.04). Phillips 66 Partners had a net margin of 44.16% and a return on equity of 27.99%. The business had revenue of $331.00 million during the quarter, compared to analyst estimates of $316.00 million. During the same period in the prior year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. research analysts predict that Phillips 66 Partners LP will post 3.24 EPS for the current fiscal year.
Several equities analysts have commented on the stock. Barclays downgraded shares of Phillips 66 Partners from an “overweight” rating to an “equal weight” rating and set a $59.00 target price on the stock. in a research report on Wednesday, January 17th. Zacks Investment Research downgraded Phillips 66 Partners from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. Morgan Stanley downgraded Phillips 66 Partners from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 11th. They noted that the move was a valuation call. Bank of America assumed coverage on Phillips 66 Partners in a research report on Tuesday, January 9th. They issued a “neutral” rating on the stock. Finally, Credit Suisse Group assumed coverage on Phillips 66 Partners in a research report on Thursday, January 4th. They issued a “neutral” rating and a $52.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $58.45.
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Phillips 66 Partners Profile
Phillips 66 Partners LP (Phillips 66) owns, operates, develops and acquires fee-based crude oil, refined petroleum product and natural gas liquids (NGL) pipelines, terminals and other transportation and midstream assets. The Company’s assets consist of systems, such as Clifton Ridge Crude System, Eagle Ford Gathering System, Ponca Crude System, Billings Crude System, Borger Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Cross-Channel Connector Products System, Ponca Products System, Billings Products System, Bayway Products System, Standish Pipeline, Borger Products System, River Parish NGL System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Sand Hills/Southern Hills Joint Ventures, Explorer Pipeline Joint Venture, Bakken Joint Ventures, Bayou Bridge Pipeline Joint Venture, STACK Pipeline Joint Venture, and Sweeny Fractionator and Clemens Caverns.
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