In a report released today, Justin Jenkins from Raymond James assigned a Buy rating to Phillips 66 Partners (PSXP), with a price target of $35.00. The company’s shares closed last Friday at $23.47, close to its 52-week low of $19.00.
According to TipRanks.com, Jenkins is a 1-star analyst with an average return of -1.8% and a 51.7% success rate. Jenkins covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Holly Energy Partners, and Plains All American.
Phillips 66 Partners has an analyst consensus of Moderate Buy, with a price target consensus of $34.60.
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The company has a one-year high of $65.23 and a one-year low of $19.00. Currently, Phillips 66 Partners has an average volume of 641.4K.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PSXP in relation to earlier this year.
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Phillips 66 Partners LP engages in the ownership, operation, development, and acquisition of crude oil, refined petroleum product and natural gas liquids pipelines and terminals, and other transportation and midstream assets. It also provides terminals and storages for oil and petroleum products. The company was founded on February 20, 2013 and is headquartered in Houston, TX.
