ABN Amro Investment Solutions Buys 3,147 Shares of Phillips 66 $PSX

ABN Amro Investment Solutions increased its stake in Phillips 66 (NYSE:PSX) by 15.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,041 shares of the oil and gas company’s stock after purchasing an additional 3,147 shares during the period. ABN Amro Investment Solutions’ holdings in Phillips 66 were worth $4,380,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MUFG Securities EMEA plc grew its holdings in shares of Phillips 66 by 113.5% during the 4th quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock valued at $2,131,000 after purchasing an additional 8,783 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Phillips 66 by 17.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,371,804 shares of the oil and gas company’s stock valued at $177,018,000 after buying an additional 199,646 shares in the last quarter. Truist Financial Corp grew its stake in shares of Phillips 66 by 1.6% during the fourth quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company’s stock worth $87,113,000 after buying an additional 10,585 shares during the last quarter. Horizon Investments LLC grew its stake in shares of Phillips 66 by 478.4% during the fourth quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company’s stock worth $8,167,000 after buying an additional 52,348 shares during the last quarter. Finally, LBP AM SA increased its holdings in shares of Phillips 66 by 237.8% during the fourth quarter. LBP AM SA now owns 56,380 shares of the oil and gas company’s stock worth $7,275,000 after buying an additional 39,690 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $211.49 on Thursday. The stock has a market capitalization of $84.79 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 0.28 and a beta of 0.69. Phillips 66 has a 52-week low of $118.07 and a 52-week high of $216.08. The stock’s 50 day moving average price is $181.23 and its two-hundred day moving average price is $167.47. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same period in the previous year, the company posted ($0.90) EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts predict that Phillips 66 will post 19.84 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.4%. Phillips 66’s dividend payout ratio is 50.05%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 11,021 shares of Phillips 66 stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $18,504,361.28. The trade was a 10.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers bought 175 shares of Phillips 66 stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 41,021 shares of company stock valued at $7,195,257 in the last quarter. 0.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on PSX shares. Wall Street Zen cut Phillips 66 from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Argus boosted their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Weiss Ratings cut shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. BMO Capital Markets raised their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Scotiabank lifted their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $198.72.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.