Robeco Institutional Asset Management B.V. Purchases 1,714 Shares of Phillips 66 $PSX

Robeco Institutional Asset Management B.V. boosted its position in shares of Phillips 66 (NYSE:PSX) by 93.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,551 shares of the oil and gas company’s stock after purchasing an additional 1,714 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Phillips 66 were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PSX. WealthTrust Axiom LLC grew its position in shares of Phillips 66 by 1.1% in the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after purchasing an additional 81 shares during the period. Wolff Wiese Magana LLC raised its stake in Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 82 shares during the period. Magnus Financial Group LLC raised its stake in Phillips 66 by 2.8% in the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after acquiring an additional 84 shares during the period. Biltmore Wealth Management LLC grew its holdings in Phillips 66 by 2.4% in the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock valued at $431,000 after buying an additional 85 shares in the last quarter. Finally, XML Financial LLC grew its holdings in Phillips 66 by 0.5% in the 2nd quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock valued at $2,093,000 after buying an additional 85 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PSX. Barclays boosted their price target on Phillips 66 from $127.00 to $132.00 and gave the company an “equal weight” rating in a research note on Tuesday. Compass Point began coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued a “buy” rating for the company. Morgan Stanley raised their price objective on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. Evercore ISI raised their price objective on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Finally, Cantor Fitzgerald began coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.50.

Phillips 66 Price Performance

PSX opened at $131.31 on Thursday. The stock has a 50-day moving average price of $129.21 and a 200-day moving average price of $120.58. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $53.07 billion, a P/E ratio of 31.56, a PEG ratio of 1.93 and a beta of 1.11.

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

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66’s dividend payout ratio is currently 115.38%.

Insider Transactions at Phillips 66

In related news, Director Sigmund L. Cornelius purchased 500 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the purchase, the director directly owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This represents a 2.38% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory Hayes bought 8,350 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were acquired at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the purchase, the director owned 29,423 shares in the company, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 9,850 shares of company stock worth $1,188,910 over the last 90 days. 0.22% of the stock is currently owned by insiders.

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.