Boston Partners Acquires 3,494,878 Shares of Phillips 66 (NYSE:PSX)

Boston Partners grew its holdings in Phillips 66 (NYSE:PSX - Free Report) by 962.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,858,170 shares of the oil and gas company's stock after buying an additional 3,494,878 shares during the period. Boston Partners owned 0.88% of Phillips 66 worth $513,327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. DekaBank Deutsche Girozentrale increased its stake in shares of Phillips 66 by 12.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company's stock worth $26,501,000 after acquiring an additional 22,278 shares during the period. Eldred Rock Partners LLC acquired a new position in Phillips 66 during the fourth quarter worth about $10,402,000. Choate Investment Advisors acquired a new position in Phillips 66 during the third quarter worth about $247,000. First Dallas Securities Inc. acquired a new position in Phillips 66 during the third quarter worth about $753,000. Finally, TIAA Trust National Association grew its position in Phillips 66 by 32.9% during the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company's stock worth $1,973,000 after buying an additional 3,670 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PSX. Scotiabank upped their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a "sector outperform" rating in a research report on Thursday, April 11th. Barclays reduced their price target on shares of Phillips 66 from $155.00 to $147.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 30th. Raymond James upped their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an "outperform" rating in a report on Thursday, February 1st. StockNews.com downgraded shares of Phillips 66 from a "buy" rating to a "hold" rating in a report on Monday, May 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the company an "overweight" rating in a report on Monday, April 1st. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of "Moderate Buy" and a consensus price target of $157.43.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares of the company's stock, valued at $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Richard G. Harbison sold 21,934 shares of the company's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company's stock, valued at $3,648,120.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock valued at $5,272,681 over the last quarter. Company insiders own 0.22% of the company's stock.

Phillips 66 Trading Down 1.4 %

Shares of PSX traded down $2.12 on Friday, hitting $145.60. 1,808,750 shares of the stock traded hands, compared to its average volume of 2,373,069. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $61.73 billion, a P/E ratio of 11.20, a P/E/G ratio of 1.90 and a beta of 1.41. The stock's 50 day moving average is $155.73 and its two-hundred day moving average is $139.32. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion for the quarter, compared to analysts' expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the previous year, the company posted $4.21 EPS. As a group, sell-side analysts predict that Phillips 66 will post 12.76 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a dividend of $1.15 per share. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.16%. This is an increase from Phillips 66's previous quarterly dividend of $1.05. Phillips 66's dividend payout ratio (DPR) is currently 35.38%.

About Phillips 66

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.