Spirit of America Management Corp NY lessened its stake in shares of Phillips 66 Partners LP (NYSE:PSXP) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 about 2.6% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 7th largest position. Spirit of America Management Corp NY owned 0.27% of Phillips 66 Partners worth $17,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of the stock. Ffcm LLC raised its position in Phillips 66 Partners by 50.0% in the 4th 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 bought a new position in Phillips 66 Partners in the 4th quarter valued at $29,000. Lindbrook Capital LLC bought a new position in Phillips 66 Partners in the 4th quarter valued at $34,000. Arlington Partners LLC bought a new position in Phillips 66 Partners in the 4th quarter valued at $113,000. Finally, Advisor Group Inc. raised its position in Phillips 66 Partners by 25.1% in the 4th 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. Institutional investors and hedge funds own 42.79% of the company’s stock.
Shares of Phillips 66 Partners stock traded down $0.34 during trading 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 quick ratio of 0.43, a current ratio of 0.48 and a debt-to-equity ratio of 1.70. Phillips 66 Partners LP has a twelve month low of $40.76 and a twelve month high of $55.02. The stock has a market cap of $6.30 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.64 and a beta of 1.23.
PSXP has been the subject of several research reports. Zacks Investment Research raised Phillips 66 Partners from a “hold” rating to a “strong-buy” rating and set a $59.00 target price for the company in a research note on Tuesday. ValuEngine cut Phillips 66 Partners from a “hold” rating to a “sell” rating in a research note on Monday. Credit Suisse Group lowered their target price on Phillips 66 Partners from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, February 11th. Stifel Nicolaus cut Phillips 66 Partners from a “buy” rating to a “hold” rating and lifted their target price for the company from $50.00 to $52.00 in a research note on Monday, February 11th. Finally, Bank of America reissued a “neutral” rating and issued a $53.00 target price (up from $46.00) on shares of Phillips 66 Partners in a research note on Thursday, February 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Phillips 66 Partners has an average rating of “Hold” and a consensus price target of $56.73.
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Phillips 66 Partners Company 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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