Phillips 66 Partners LP (NYSE:PSXP) has tumbled 1.05% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 2.78% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.13% and the outperformance has advanced to 1.84% for the last 4 weeks period.
Phillips 66 Partners LP (NYSE:PSXP): The stock opened at $54.73 on Friday but the bulls could not build on the opening and the stock topped out at $55.50 for the day. The stock traded down to $51.77 during the day, due to lack of any buying support eventually closed down at $53.58 with a loss of -0.45% for the day. The stock had closed at $53.82 on the previous day. The total traded volume was 3,071,317 shares.
The company shares have dropped -25.14% from its 1 Year high price. On Jun 30, 2015, the shares registered one year high at $73.40 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $53.99 and the 200 Day Moving Average price is recorded at $57.19.
On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Phillips 66 Partners Lp, Haney Mark, had purchased 8,000 shares in a transaction dated on May 20, 2016. The transaction was executed at $52.94 per share with total amount equaling $423,520.
Many analysts have stated their opinion on the company shares. JP Morgan maintains its rating on Phillips 66 Partners LP (NYSE:PSXP). The global brokerage major lowers the current price target from $78 per share to $72 per share. Analysts at the JP Morgan have a current rating of Overweight on the shares. The rating by the firm was issued on May 16, 2016. In the past twelve weeks, the net percent change held by company insiders has changed by 40% . Institutional Investors own 23.86% of Phillips 66 Partners LP shares. During last six month period, the net percent change held by insiders has seen a change of 40%.
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 20,938,498 common units and 35,217,112 subordinated units, representing an aggregate 73.3% limited partner interest, and a 100% interest in Phillips 66 Partners GP LLC (the Companys General Partner).