Mariner Investment Group LLC raised its position in shares of Phillips 66 Partners LP (NYSE:PSXP) by 675.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,600 shares of the oil and gas company’s stock after buying an additional 106,800 shares during the period. Phillips 66 Partners accounts for 3.3% of Mariner Investment Group LLC’s holdings, making the stock its 12th largest position. Mariner Investment Group LLC owned about 0.11% of Phillips 66 Partners worth $6,059,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in PSXP. Cambridge Investment Research Advisors Inc. increased its stake in Phillips 66 Partners by 1.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,222 shares of the oil and gas company’s stock worth $268,000 after buying an additional 62 shares during the period. Diversified Trust Co increased its stake in Phillips 66 Partners by 1.6% in the second quarter. Diversified Trust Co now owns 24,029 shares of the oil and gas company’s stock worth $1,188,000 after buying an additional 382 shares during the period. Keybank National Association OH increased its stake in Phillips 66 Partners by 9.0% in the first quarter. Keybank National Association OH now owns 4,820 shares of the oil and gas company’s stock worth $248,000 after buying an additional 400 shares during the period. Duff & Phelps Investment Management Co. increased its stake in Phillips 66 Partners by 0.3% in the first quarter. Duff & Phelps Investment Management Co. now owns 288,019 shares of the oil and gas company’s stock worth $14,790,000 after buying an additional 800 shares during the period. Finally, MAI Capital Management increased its stake in Phillips 66 Partners by 1.6% in the first quarter. MAI Capital Management now owns 55,957 shares of the oil and gas company’s stock worth $2,873,000 after buying an additional 870 shares during the period. 42.22% of the stock is owned by institutional investors.
Shares of Phillips 66 Partners LP (NYSE PSXP) opened at 46.53 on Friday. The stock has a market cap of $5.14 billion, a PE ratio of 19.19 and a beta of 1.51. Phillips 66 Partners LP has a 52-week low of $42.47 and a 52-week high of $58.00. The company’s 50-day moving average price is $49.07 and its 200-day moving average price is $51.27.
Phillips 66 Partners (NYSE:PSXP) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.11. The company had revenue of $234 million for the quarter, compared to analyst estimates of $235.69 million. Phillips 66 Partners had a net margin of 45.35% and a return on equity of 23.01%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. Analysts expect that Phillips 66 Partners LP will post $2.66 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Monday, July 31st were issued a dividend of $0.615 per share. This is a positive change from Phillips 66 Partners’s previous quarterly dividend of $0.59. The ex-dividend date was Thursday, July 27th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.29%. Phillips 66 Partners’s dividend payout ratio is currently 101.23%.
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PSXP has been the subject of several research reports. BidaskClub raised Phillips 66 Partners from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Stifel Nicolaus set a $63.00 price target on Phillips 66 Partners and gave the stock a “buy” rating in a research note on Saturday, June 24th. Citigroup Inc. cut their price target on Phillips 66 Partners from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, July 17th. Scotiabank set a $61.00 price target on Phillips 66 Partners and gave the stock a “buy” rating in a research note on Friday, July 21st. Finally, Barclays PLC raised Phillips 66 Partners from an “equal weight” rating to an “overweight” rating and set a $61.00 price target for the company in a research note on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.44.
About Phillips 66 Partners
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