Boston Partners Sells 26,620 Shares of Phillips 66 $PSX

Boston Partners decreased its stake in Phillips 66 (NYSE:PSX) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,414,986 shares of the oil and gas company’s stock after selling 26,620 shares during the quarter. Boston Partners’ holdings in Phillips 66 were worth $168,825,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. WealthTrust Axiom LLC increased its stake 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 acquiring an additional 81 shares during the last quarter. Wolff Wiese Magana LLC grew its holdings in Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares during the period. Magnus Financial Group LLC increased its stake in Phillips 66 by 2.8% in the second quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after purchasing an additional 84 shares in the last quarter. Biltmore Wealth Management LLC increased its stake in Phillips 66 by 2.4% in the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock valued at $431,000 after purchasing an additional 85 shares in the last quarter. Finally, XML Financial LLC raised its holdings in Phillips 66 by 0.5% in the second quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock worth $2,093,000 after purchasing an additional 85 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 3rd. Wells Fargo & Company lifted their target price on Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Bank of America downgraded Phillips 66 from a “buy” rating to a “neutral” rating and increased their price target for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. Wall Street Zen raised Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, UBS Group reiterated a “buy” rating and set a $160.00 price objective on shares of Phillips 66 in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $143.56.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Gregory Hayes purchased 8,350 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were purchased at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the transaction, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This represents a 39.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Up 1.5%

Shares of Phillips 66 stock opened at $140.74 on Wednesday. The business’s 50 day simple moving average is $133.44 and its 200 day simple moving average is $125.46. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.94. The firm has a market cap of $56.71 billion, a PE ratio of 38.45, a P/E/G ratio of 1.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The firm had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. During the same quarter in the prior year, the firm posted $2.04 EPS. On average, analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, November 17th. Phillips 66’s payout ratio is presently 131.15%.

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.