Phillips 66 Partners LP (PSXP) : Lvw Advisors reduced its stake in Phillips 66 Partners LP by 19.93% during the most recent quarter end. The investment management company now holds a total of 48,408 shares of Phillips 66 Partners LP which is valued at $2,401,521 after selling 12,050 shares in Phillips 66 Partners LP , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Phillips 66 Partners LP makes up approximately 0.87% of Lvw Advisors’s portfolio.
Other Hedge Funds, Including , Alliancebernstein boosted its stake in PSXP in the latest quarter, The investment management firm added 97 additional shares and now holds a total of 3,897 shares of Phillips 66 Partners LP which is valued at $193,330.Castleark Management reduced its stake in PSXP by selling 18,510 shares or 35.8% in the most recent quarter. The Hedge Fund company now holds 33,190 shares of PSXP which is valued at $1,646,556. Phillips 66 Partners LP makes up approx 0.05% of Castleark Management’s portfolio. Tci Wealth Advisors sold out all of its stake in PSXP during the most recent quarter. The investment firm sold 21 shares of PSXP which is valued $1,029. First Trust Advisors Lp added PSXP to its portfolio by purchasing 47,104 company shares during the most recent quarter which is valued at $2,395,238. Phillips 66 Partners LP makes up approx 0.01% of First Trust Advisors Lp’s portfolio. Cutler Group Lp sold out all of its stake in PSXP during the most recent quarter. The investment firm sold 19 shares of PSXP which is valued $1,056.
Phillips 66 Partners LP closed down -0.26 points or -0.53% at $48.65 with 12,94,466 shares getting traded on Tuesday. Post opening the session at $49.19, the shares hit an intraday low of $48.51 and an intraday high of $49.27 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
On the company’s financial health, Phillips 66 Partners LP reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $0.50. The company had revenue of $140.40 million for the quarter, compared to analysts expectations of $126.73 million. The company’s revenue was up 67.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.
Many Wall Street Analysts have commented on Phillips 66 Partners LP. Phillips 66 Partners LP was Initiated by Goldman to “Neutral” on Aug 25, 2016. Phillips 66 Partners LP was Initiated by Jefferies to “Hold” on Aug 23, 2016. Stifel Initiated Phillips 66 Partners LP on Aug 18, 2016 to “Buy”, Price Target of the shares are set at $59.
Phillips 66 Partners LP 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 Companys assets consist of crude oil and refined petroleum product pipeline terminal rail rack and storage systems in the Central Gulf Coast Atlantic Basin and Western regions of the United States. Its assets also consists of systems which include Clifton Ridge Crude System Sweeny to Pasadena Products System Hartford Connector Products System Gold Line Products System Medford Spheres Bayway Rail Rack Ferndale Rail Rack Cross-Channel Connector Project Palermo Rail Terminal Project and Eagle Ford Gathering System Project. Phillips 66 through Phillips 66 Company owns 20938498 common units and 35217112 subordinated units representing an aggregate 73.3% limited partner interest and a 100% interest in Phillips 66 Partners GP LLC (the Companys General Partner).