Boston Partners Sells 1,110,594 Shares of Phillips 66 (NYSE:PSX)

Boston Partners lessened its holdings in Phillips 66 (NYSE:PSX) by 43.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,441,606 shares of the oil and gas company’s stock after selling 1,110,594 shares during the quarter. Boston Partners’ holdings in Phillips 66 were worth $177,899,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSX. Cary Street Partners Financial LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at $4,333,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Phillips 66 by 20.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company’s stock valued at $19,625,000 after purchasing an additional 26,825 shares in the last quarter. Alta Advisers Ltd acquired a new stake in shares of Phillips 66 in the 1st quarter valued at $253,000. Advisory Resource Group boosted its stake in shares of Phillips 66 by 6.8% in the 1st quarter. Advisory Resource Group now owns 256,327 shares of the oil and gas company’s stock valued at $31,651,000 after purchasing an additional 16,300 shares in the last quarter. Finally, Strategic Planning Group LLC boosted its stake in shares of Phillips 66 by 23.7% in the 1st quarter. Strategic Planning Group LLC now owns 35,348 shares of the oil and gas company’s stock valued at $4,365,000 after purchasing an additional 6,774 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert W. Pease purchased 439 shares of the stock in a transaction dated Thursday, May 22nd. The stock was bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the purchase, the director directly owned 4,091 shares in the company, valued at $465,760.35. The trade was a 12.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael A. Heim purchased 1,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $125.97 per share, with a total value of $125,970.00. Following the completion of the purchase, the director owned 12,043 shares in the company, valued at $1,517,056.71. The trade was a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 1,939 shares of company stock worth $237,725 over the last quarter. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Phillips 66 stock opened at $122.50 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.85. The company has a market cap of $49.50 billion, a PE ratio of 29.45, a PEG ratio of 1.65 and a beta of 1.09. The company’s 50-day moving average is $123.45 and its two-hundred day moving average is $118.89.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the prior year, the company posted $2.31 EPS. Equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.9%. Phillips 66’s dividend payout ratio is 115.38%.

Analysts Set New Price Targets

PSX has been the topic of several recent analyst reports. Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a “neutral” rating on the stock. UBS Group boosted their target price on shares of Phillips 66 from $141.00 to $143.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Citigroup downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and boosted their target price for the company from $126.00 to $130.00 in a research note on Wednesday, July 16th. TD Cowen upped their price target on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Finally, Raymond James Financial set a $142.00 price target on shares of Phillips 66 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $136.20.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.