ABN Amro Investment Solutions Takes $2.70 Million Position in Phillips 66 $PSX

Key Points

• ABN Amro Investment Solutions disclosed a new fourth-quarter position in Phillips 66, buying 20,894 shares valued at about $2.7 million.
• Phillips 66 reported better-than-expected earnings for the latest quarter, with EPS of $0.49 versus the consensus loss estimate, though revenue came in below analyst expectations.
• The company announced a quarterly dividend of $1.27 per share, equal to an annualized yield of about 2.9%, while analysts currently rate the stock a Moderate Buy on average.

ABN Amro Investment Solutions bought a new stake in Phillips 66 (NYSE:PSX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,894 shares of the oil and gas company's stock, valued at approximately $2,696,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock worth $1,166,000 after purchasing an additional 7,214 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Phillips 66 by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company's stock worth $4,308,000 after purchasing an additional 10,089 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Phillips 66 by 28.3% in the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company's stock worth $18,788,000 after buying an additional 34,698 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Phillips 66 by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company's stock worth $41,359,000 after buying an additional 28,988 shares during the last quarter. Finally, Glenview Trust co boosted its stake in shares of Phillips 66 by 2.6% in the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company's stock worth $1,068,000 after buying an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Up 2.3%

Shares of NYSE PSX opened at $178.03 on Friday. The business's 50 day moving average is $172.12 and its two-hundred day moving average is $153.30. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a 1-year low of $111.19 and a 1-year high of $190.61. The stock has a market capitalization of $71.38 billion, a P/E ratio of 17.54, a PEG ratio of 0.26 and a beta of 0.70.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analysts' expectations of $35.86 billion. During the same period in the previous year, the firm posted ($0.90) earnings per share. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts expect that Phillips 66 will post 17.64 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, May 18th. Phillips 66's payout ratio is 50.05%.

Analyst Ratings Changes

PSX has been the topic of a number of research reports. Tudor Pickering upgraded Phillips 66 from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Morgan Stanley restated an "overweight" rating and issued a $180.00 price target on shares of Phillips 66 in a research note on Thursday, April 30th. Wolfe Research raised their price target on Phillips 66 from $187.00 to $193.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. The Goldman Sachs Group raised their price target on Phillips 66 from $192.00 to $207.00 and gave the stock a "neutral" rating in a research note on Tuesday. Finally, Wall Street Zen downgraded Phillips 66 from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Phillips 66 presently has an average rating of "Moderate Buy" and an average price target of $187.11.

Insiders Place Their Bets

In other Phillips 66 news, EVP Brian Mandell sold 42,800 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the completion of the transaction, the executive vice president owned 61,595 shares in the company, valued at $10,442,200.35. The trade was a 41.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lisa Ann Davis sold 3,800 shares of the business's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $174.37, for a total value of $662,606.00. Following the transaction, the director owned 8,701 shares of the company's stock, valued at $1,517,193.37. This trade represents a 30.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 114,029 shares of company stock worth $19,641,455 over the last three months. 0.40% of the stock is currently owned by corporate insiders.

Phillips 66 Company Profile

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.

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