Creative Planning grew its stake in Phillips 66 Partners LP (NYSE:PSXP) by 86.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,400 shares of the oil and gas company’s stock after purchasing an additional 4,812 shares during the quarter. Creative Planning’s holdings in Phillips 66 Partners were worth $379,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. LVW Advisors LLC lifted its stake in shares of Phillips 66 Partners by 1.9% in the 4th quarter. LVW Advisors LLC now owns 9,783 shares of the oil and gas company’s stock valued at $603,000 after purchasing an additional 178 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Phillips 66 Partners by 33.9% in the 1st quarter. Pacer Advisors Inc. now owns 1,853 shares of the oil and gas company’s stock valued at $77,000 after purchasing an additional 469 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of Phillips 66 Partners by 10.0% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 7,750 shares of the oil and gas company’s stock valued at $282,000 after purchasing an additional 705 shares during the period. Watchman Group Inc. raised its stake in Phillips 66 Partners by 9.0% during the 1st quarter. Watchman Group Inc. now owns 9,720 shares of the oil and gas company’s stock worth $354,000 after buying an additional 800 shares during the period. Finally, Stokes Capital Advisors LLC raised its stake in Phillips 66 Partners by 17.7% during the 4th quarter. Stokes Capital Advisors LLC now owns 5,645 shares of the oil and gas company’s stock worth $348,000 after buying an additional 850 shares during the period. 25.90% of the stock is currently owned by institutional investors.
NYSE PSXP opened at $44.39 on Tuesday. The firm’s fifty day moving average price is $40.45 and its two-hundred day moving average price is $51.93. The stock has a market cap of $9.73 billion, a PE ratio of 10.93 and a beta of 1.35. Phillips 66 Partners LP has a fifty-two week low of $19.00 and a fifty-two week high of $65.22. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.99 and a current ratio of 1.05.
Phillips 66 Partners (NYSE:PSXP) last posted its earnings results on Friday, May 1st. The oil and gas company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $404.00 million for the quarter, compared to analysts’ expectations of $408.08 million. Phillips 66 Partners had a net margin of 54.94% and a return on equity of 45.19%. The company’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share. As a group, sell-side analysts predict that Phillips 66 Partners LP will post 3.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Friday, May 1st were paid a $0.875 dividend. The ex-dividend date was Thursday, April 30th. This represents a $3.50 annualized dividend and a dividend yield of 7.88%. Phillips 66 Partners’s dividend payout ratio is 81.59%.
In other Phillips 66 Partners news, Director Phillip David Bairrington acquired 15,000 shares of Phillips 66 Partners stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average price of $32.50 per share, with a total value of $487,500.00. Following the completion of the purchase, the director now directly owns 27,253 shares in the company, valued at approximately $885,722.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
PSXP has been the topic of several research analyst reports. Mizuho raised their price objective on Phillips 66 Partners from $43.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Zacks Investment Research raised Phillips 66 Partners from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Wednesday, February 19th. Stifel Nicolaus dropped their price target on Phillips 66 Partners from $48.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, May 4th. JPMorgan Chase & Co. dropped their price target on Phillips 66 Partners from $54.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Finally, Raymond James dropped their price target on Phillips 66 Partners from $67.00 to $52.00 and set an “outperform” rating on the stock in a research note on Thursday, March 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Phillips 66 Partners has a consensus rating of “Buy” and a consensus price target of $52.18.
Phillips 66 Partners Profile
Phillips 66 Partners LP owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids (NGL) 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, New Mexico, Illinois, Missouri, Kansas, Oklahoma, New Jersey, Washington, Wyoming, and Montana; marine assets in Lake Charles, Bayway, and Wood River; and NGL assets in Texas and Louisiana.
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