Driehaus Capital Management LLC increased its stake in shares of Phillips 66 Partners LP (NYSE:PSXP) by 17.5% during the first quarter, Holdings Channel reports. The institutional investor owned 100,829 shares of the oil and gas company’s stock after buying an additional 14,989 shares during the period. Driehaus Capital Management LLC’s holdings in Phillips 66 Partners were worth $5,178,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of PSXP. HighTower Advisors LLC boosted its stake in Phillips 66 Partners by 2.9% in the first quarter. HighTower Advisors LLC now owns 83,043 shares of the oil and gas company’s stock valued at $4,264,000 after buying an additional 2,308 shares in the last quarter. Brookfield Asset Management Inc. boosted its stake in Phillips 66 Partners by 93.3% in the first quarter. Brookfield Asset Management Inc. now owns 549,600 shares of the oil and gas company’s stock valued at $28,222,000 after buying an additional 265,300 shares in the last quarter. Jane Street Group LLC bought a new stake in Phillips 66 Partners during the first quarter valued at about $834,000. Bank of America Corp DE boosted its stake in Phillips 66 Partners by 102.1% in the first quarter. Bank of America Corp DE now owns 470,956 shares of the oil and gas company’s stock valued at $24,184,000 after buying an additional 237,972 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in Phillips 66 Partners during the first quarter valued at about $301,000. 42.40% of the stock is currently owned by hedge funds and other institutional investors.
Phillips 66 Partners LP (PSXP) traded down 0.955% during mid-day trading on Monday, reaching $48.215. 107,864 shares of the company’s stock traded hands. Phillips 66 Partners LP has a 12 month low of $42.47 and a 12 month high of $58.00. The stock has a market capitalization of $5.20 billion, a PE ratio of 20.631 and a beta of 1.51. The firm’s 50-day moving average price is $50.13 and its 200 day moving average price is $51.48.
Phillips 66 Partners (NYSE:PSXP) last issued its earnings results on Friday, April 28th. The oil and gas company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.65 by $0.05. The firm had revenue of $234 million during the quarter, compared to the consensus estimate of $217.56 million. Phillips 66 Partners had a return on equity of 22.31% and a net margin of 46.38%. During the same period last year, the business earned $0.44 earnings per share. Equities research analysts predict that Phillips 66 Partners LP will post $2.96 EPS for the current year.
Several research firms recently issued reports on PSXP. Stifel Nicolaus set a $63.00 price target on shares of Phillips 66 Partners and gave the company a “buy” rating in a report on Saturday. BidaskClub raised shares of Phillips 66 Partners from a “strong sell” rating to a “sell” rating in a report on Saturday. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Phillips 66 Partners in a report on Tuesday, March 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $58.33.
Phillips 66 Partners Company Profile
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