Phillips 66 Partners LP (PSXP) Stake Increased by Neuberger Berman Group LLC

Neuberger Berman Group LLC lifted its holdings in Phillips 66 Partners LP (NYSE:PSXP) by 60.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,674 shares of the oil and gas company’s stock after purchasing an additional 5,127 shares during the quarter. Neuberger Berman Group LLC’s holdings in Phillips 66 Partners were worth $699,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Copeland Capital Management LLC lifted its position in Phillips 66 Partners by 1.7% during the 3rd quarter. Copeland Capital Management LLC now owns 66,076 shares of the oil and gas company’s stock worth $3,379,000 after acquiring an additional 1,117 shares during the period. California Public Employees Retirement System lifted its position in Phillips 66 Partners by 1.6% during the 2nd quarter. California Public Employees Retirement System now owns 78,667 shares of the oil and gas company’s stock worth $4,017,000 after acquiring an additional 1,267 shares during the period. Tortoise Index Solutions LLC lifted its position in Phillips 66 Partners by 21.4% during the 3rd quarter. Tortoise Index Solutions LLC now owns 9,156 shares of the oil and gas company’s stock worth $468,000 after acquiring an additional 1,617 shares during the period. Walnut Private Equity Partners LLC lifted its position in Phillips 66 Partners by 275.9% during the 3rd quarter. Walnut Private Equity Partners LLC now owns 2,725 shares of the oil and gas company’s stock worth $139,000 after acquiring an additional 2,000 shares during the period. Finally, LVW Advisors LLC lifted its position in Phillips 66 Partners by 15.7% during the 3rd quarter. LVW Advisors LLC now owns 16,005 shares of the oil and gas company’s stock worth $818,000 after acquiring an additional 2,170 shares during the period. 44.03% of the stock is owned by hedge funds and other institutional investors.

NYSE PSXP opened at $47.99 on Friday. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 1.79 and a beta of 1.21. Phillips 66 Partners LP has a fifty-two week low of $40.76 and a fifty-two week high of $56.48. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 1.72.



Phillips 66 Partners (NYSE:PSXP) last released its quarterly earnings data on Friday, October 26th. The oil and gas company reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.18. Phillips 66 Partners had a return on equity of 47.66% and a net margin of 51.76%. The business had revenue of $384.00 million during the quarter, compared to analyst estimates of $362.44 million. During the same quarter last year, the business posted $0.65 EPS. The company’s revenue was up 8.5% on a year-over-year basis. Analysts forecast that Phillips 66 Partners LP will post 4.05 EPS for the current year.

In other Phillips 66 Partners news, Director Joseph O’toole purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The stock was purchased at an average price of $46.96 per share, for a total transaction of $469,600.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $469,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

A number of analysts have commented on PSXP shares. Bank of America cut Phillips 66 Partners from a “buy” rating to a “neutral” rating in a research report on Monday, December 10th. Jefferies Financial Group raised Phillips 66 Partners from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. Morgan Stanley reiterated an “underweight” rating and set a $55.00 price objective on shares of Phillips 66 Partners in a research note on Friday, September 28th. Credit Suisse Group started coverage on Phillips 66 Partners in a research note on Thursday, October 11th. They set an “outperform” rating and a $66.00 price objective for the company. Finally, ValuEngine lowered Phillips 66 Partners from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $58.04.

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About Phillips 66 Partners

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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Institutional Ownership by Quarter for Phillips 66 Partners (NYSE:PSXP)

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