Van Lanschot Kempen Investment Management N.V. Sells 54,192 Shares of Phillips 66 $PSX

Key Points

• Van Lanschot Kempen Investment Management N.V. reduced its stake in Phillips 66 by 31.8%, selling 54,192 shares, and now holds 115,977 shares valued at approximately $14.3 million.
• Phillips 66 recently announced a quarterly dividend of $1.20 per share, translating to an annualized yield of 3.9%, with a payout ratio of 115.38%.
• The company reported earnings per share of $2.38 for the recent quarter, exceeding consensus estimates by $0.59, with revenue reaching $33.77 billion.

Van Lanschot Kempen Investment Management N.V. lowered its stake in Phillips 66 (NYSE:PSX - Free Report) by 31.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,977 shares of the oil and gas company's stock after selling 54,192 shares during the quarter. Van Lanschot Kempen Investment Management N.V.'s holdings in Phillips 66 were worth $14,321,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Pacific Center for Financial Services bought a new position in shares of Phillips 66 during the fourth quarter valued at $27,000. von Borstel & Associates Inc. bought a new position in shares of Phillips 66 during the first quarter valued at $27,000. Olde Wealth Management LLC bought a new position in shares of Phillips 66 during the first quarter valued at $28,000. Wood Tarver Financial Group LLC bought a new position in shares of Phillips 66 during the fourth quarter valued at $29,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Phillips 66 during the first quarter valued at $29,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Up 0.4%

Shares of NYSE:PSX traded up $0.4890 during mid-day trading on Monday, hitting $130.4290. The company had a trading volume of 467,945 shares, compared to its average volume of 3,312,557. The firm has a fifty day moving average price of $124.31 and a 200 day moving average price of $119.01. The company has a market capitalization of $52.71 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.76 and a beta of 1.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a one year low of $91.01 and a one year high of $140.85.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion during 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 period last year, the company posted $2.31 earnings per share. As a group, research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

Insider Buying and Selling at Phillips 66

In other news, Director Michael A. Heim purchased 1,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average cost of $125.97 per share, with a total value of $125,970.00. Following the completion of the transaction, the director directly owned 12,043 shares of the company's stock, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the transaction, the executive vice president directly owned 43,373 shares in the company, valued at $5,638,490. The trade was a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased a total of 9,850 shares of company stock worth $1,188,910 in the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PSX shares. Barclays raised their price target on shares of Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Piper Sandler restated a "neutral" rating and set a $145.00 price target (up previously from $144.00) on shares of Phillips 66 in a report on Monday, August 4th. Argus upgraded shares of Phillips 66 to a "strong-buy" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. set a $115.00 price target on shares of Phillips 66 in a report on Wednesday, June 18th. Finally, Morgan Stanley raised their price target on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Phillips 66 currently has an average rating of "Moderate Buy" and an average 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.