Robeco Institutional Asset Management B.V. Has $24.57 Million Stock Holdings in Phillips 66 $PSX

Key Points

• Robeco Institutional Asset Management increased its stake in Phillips 66 by 10.2% to 190,439 shares, worth about $24.57 million at the end of the quarter.
• Quarterly results beat on EPS ($2.47 vs. $2.15 est.) but missed revenue expectations, and the company raised its quarterly dividend to $1.27 (annualized $5.08, ~3.2% yield).
• Insider selling totaled 95,923 shares (~$16.4 million) in the last 90 days (including CFO and EVP sales), while institutional investors own about 76.93% of the stock.

Robeco Institutional Asset Management B.V. increased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 10.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 190,439 shares of the oil and gas company's stock after acquiring an additional 17,702 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Phillips 66 were worth $24,574,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Phillips 66 by 11.6% in the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company's stock valued at $7,035,574,000 after buying an additional 5,356,558 shares during the period. Amundi lifted its stake in Phillips 66 by 2.8% in the third quarter. Amundi now owns 2,400,180 shares of the oil and gas company's stock valued at $319,123,000 after buying an additional 65,568 shares during the period. Legal & General Group Plc lifted its stake in Phillips 66 by 1.5% in the third quarter. Legal & General Group Plc now owns 2,276,036 shares of the oil and gas company's stock valued at $309,586,000 after buying an additional 33,397 shares during the period. AQR Capital Management LLC lifted its stake in Phillips 66 by 424.7% in the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company's stock valued at $257,512,000 after buying an additional 1,532,389 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in Phillips 66 by 1.9% in the third quarter. Raymond James Financial Inc. now owns 1,534,830 shares of the oil and gas company's stock valued at $208,768,000 after buying an additional 28,917 shares during the period. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Stock Up 0.6%

NYSE:PSX opened at $160.13 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30. The company has a market cap of $64.17 billion, a PE ratio of 14.80, a PEG ratio of 0.28 and a beta of 0.76. Phillips 66 has a 52-week low of $95.70 and a 52-week high of $190.61. The stock has a 50-day simple moving average of $166.03 and a 200 day simple moving average of $146.52.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.32. The business had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same period last year, the company earned ($0.15) earnings per share. On average, sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were issued a dividend of $1.27 per share. The ex-dividend date was Monday, February 23rd. This is a boost from Phillips 66's previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.2%. Phillips 66's dividend payout ratio is 46.95%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. TD Cowen increased their target price on Phillips 66 from $155.00 to $213.00 and gave the company a "buy" rating in a research note on Wednesday, April 1st. BMO Capital Markets increased their target price on Phillips 66 from $175.00 to $195.00 and gave the company an "outperform" rating in a research note on Tuesday, April 7th. Piper Sandler increased their target price on Phillips 66 from $168.00 to $177.00 and gave the company a "neutral" rating in a research note on Wednesday, April 8th. Mizuho increased their target price on Phillips 66 from $152.00 to $170.00 and gave the company a "neutral" rating in a research note on Tuesday, March 17th. Finally, Scotiabank raised Phillips 66 to a "hold" rating in a research note on Friday, March 27th. Eleven investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $180.72.

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 16,856 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,380,590.72. This trade represents a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 42,800 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the transaction, the executive vice president owned 61,595 shares of the company's stock, valued at approximately $10,442,200.35. The trade was a 41.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 95,923 shares of company stock valued at $16,399,619 in the last 90 days. 0.40% of the stock is currently owned by corporate insiders.

Phillips 66 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.