Boston Partners Has $177.90 Million Position in Phillips 66 (NYSE:PSX)

Key Points

• Boston Partners reduced its stake in Phillips 66 by 43.5%, now holding approximately 1.44 million shares worth $177.9 million.
• Phillips 66 is set to pay a quarterly dividend of $1.20 per share on September 2, reflecting an annualized yield of 3.9%.
• Analysts have given Phillips 66 an average rating of "Moderate Buy" with a consensus price target of $136.20.

Boston Partners trimmed its stake in Phillips 66 (NYSE:PSX - Free Report) by 43.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,441,606 shares of the oil and gas company's stock after selling 1,110,594 shares during the quarter. Boston Partners owned 0.35% of Phillips 66 worth $177,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after purchasing an additional 4,455,220 shares during the last quarter. Invesco Ltd. raised its stake in shares of Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company's stock worth $588,489,000 after purchasing an additional 653,248 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Phillips 66 by 10.6% during the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock valued at $522,834,000 after buying an additional 440,107 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Phillips 66 by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,014,113 shares of the oil and gas company's stock valued at $457,257,000 after buying an additional 357,705 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Phillips 66 by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company's stock worth $466,886,000 after buying an additional 377,132 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Phillips 66 stock traded up $0.89 during trading hours on Friday, hitting $123.62. The stock had a trading volume of 2,302,957 shares, compared to its average volume of 2,434,668. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $140.85. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average of $123.85 and a two-hundred day moving average of $118.88. The company has a market cap of $49.96 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 1.70 and a beta of 1.09.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to analysts' expectations of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter in the previous year, the firm posted $2.31 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's dividend payout ratio is currently 115.38%.

Insider Activity

In other Phillips 66 news, Director Sigmund L. Cornelius purchased 500 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $123.55 per share, with a total value of $61,775.00. Following the acquisition, the director directly owned 21,543 shares of the company's stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares of the company's stock, valued at $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 10,289 shares of company stock valued at $1,238,890. Corporate insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on PSX shares. Mizuho boosted their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Raymond James Financial set a $142.00 target price on Phillips 66 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Evercore ISI began coverage on Phillips 66 in a research note on Wednesday, June 18th. They set an "outperform" rating and a $130.00 price target for the company. Finally, Compass Point initiated coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating on the stock. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $136.20.

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.