Phillips 66 Partners LP (PSXP) : During the past 4 weeks, traders have been relatively bearish on Phillips 66 Partners LP (PSXP), hence the stock is down -11.64% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -2.49% relative to the S&P 500. The 4-week change in the price of the stock is -10.73% and the stock has fallen -2.44% in the past 1 week.
The stock has recorded a 20-day Moving Average of 5.55% and the 50-Day Moving Average is 6.9%. Phillips 66 Partners LP (NYSE:PSXP): stock turned positive on Friday. Though the stock opened at $49.27, the bulls momentum made the stock top out at $49.63 level for the day. The stock recorded a low of $48.75 and closed the trading day at $49.61, in the green by 1.29%. The total traded volume for the day was 677,723. The stock had closed at $48.98 in the previous days trading.
Institutional Investors own 28.56% of Phillips 66 Partners LP shares. During last six month period, the net percent change held by insiders has seen a change of 40%. Also, Brokerage firm Barclays maintains its rating on Phillips 66 Partners LP (NYSE:PSXP). As per the latest information, the brokerage house lowers the price target to $62 per share from a prior target of $66. The shares have been rated Equalweight. The rating by the firm was issued on July 28, 2016.
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).