Robeco Institutional Asset Management B.V. Makes New $227,000 Investment in Phillips 66 (NYSE:PSX)

Robeco Institutional Asset Management B.V. purchased a new position in shares of Phillips 66 (NYSE:PSX) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,837 shares of the oil and gas company’s stock, valued at approximately $227,000.

A number of other institutional investors also recently bought and sold shares of PSX. J.Safra Asset Management Corp purchased a new stake in Phillips 66 during the 4th quarter worth about $25,000. Pacific Center for Financial Services purchased a new stake in Phillips 66 during the 4th quarter worth about $27,000. Graney & King LLC purchased a new stake in shares of Phillips 66 in the 4th quarter valued at about $28,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Phillips 66 in the 4th quarter valued at about $29,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the 1st quarter valued at about $29,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 2.6%

PSX opened at $126.36 on Thursday. The business has a 50 day moving average price of $116.04 and a two-hundred day moving average price of $116.90. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The company has a market cap of $51.48 billion, a PE ratio of 28.78, a P/E/G ratio of 1.93 and a beta of 1.02. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The business had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same quarter in the previous year, the firm posted $1.90 EPS. As a group, research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $1.20 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 3.80%. Phillips 66’s payout ratio is presently 109.34%.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Robert W. Pease bought 439 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the transaction, the director owned 4,091 shares of the company’s stock, valued at approximately $465,760.35. This trade represents a 12.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brian Mandell sold 9,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the transaction, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. The trade was a 14.71% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of several research reports. Wall Street Zen raised Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Tudor Pickering downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Compass Point initiated coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a “buy” rating for the company. Mizuho boosted their target price on Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Finally, Scotiabank reduced their target price on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.93.

Phillips 66 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.