Phillips 66 (NYSE:PSX) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. cut its stake in Phillips 66 (NYSE:PSX) by 11.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,651 shares of the oil and gas company’s stock after selling 4,088 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Phillips 66 were worth $4,029,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Manning & Napier Advisors LLC acquired a new stake in Phillips 66 during the second quarter worth about $17,670,000. Van ECK Associates Corp raised its position in shares of Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after buying an additional 60,355 shares during the period. M&G Plc acquired a new position in Phillips 66 in the second quarter valued at approximately $3,596,000. Meeder Asset Management Inc. purchased a new position in Phillips 66 in the first quarter worth approximately $1,283,000. Finally, Cetera Investment Advisers increased its stake in Phillips 66 by 318.9% during the first quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock worth $23,284,000 after acquiring an additional 108,515 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX opened at $126.47 on Friday. The firm has a market capitalization of $52.23 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 4.17 and a beta of 1.33. The firm’s fifty day simple moving average is $130.12 and its 200-day simple moving average is $136.72. Phillips 66 has a twelve month low of $110.54 and a twelve month high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.63 earnings per share. Equities analysts forecast that Phillips 66 will post 7.68 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PSX. Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Wolfe Research initiated coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. UBS Group dropped their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. TD Cowen decreased their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Bank of America initiated coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $150.38.

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.