Phillips 66 (NYSE:PSX) Shares Sold by Boston Partners

Boston Partners lowered its position in Phillips 66 (NYSE:PSX) by 17.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 630,407 shares of the oil and gas company’s stock after selling 135,901 shares during the period. Boston Partners owned about 0.14% of Phillips 66 worth $59,000,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can raised its position in shares of Phillips 66 by 9.4% in the second quarter. Bank of Montreal Can now owns 852,142 shares of the oil and gas company’s stock worth $79,710,000 after acquiring an additional 73,004 shares during the period. First Merchants Corp raised its position in shares of Phillips 66 by 13.5% in the second quarter. First Merchants Corp now owns 17,797 shares of the oil and gas company’s stock worth $1,665,000 after acquiring an additional 2,117 shares during the period. Mitchell Capital Management Co. raised its position in shares of Phillips 66 by 23.4% in the second quarter. Mitchell Capital Management Co. now owns 17,944 shares of the oil and gas company’s stock worth $1,678,000 after acquiring an additional 3,405 shares during the period. Copeland Capital Management LLC raised its position in shares of Phillips 66 by 44.1% in the second quarter. Copeland Capital Management LLC now owns 45,198 shares of the oil and gas company’s stock worth $4,227,000 after acquiring an additional 13,840 shares during the period. Finally, Baxter Bros Inc. raised its position in shares of Phillips 66 by 8.7% in the second quarter. Baxter Bros Inc. now owns 13,334 shares of the oil and gas company’s stock worth $1,247,000 after acquiring an additional 1,070 shares during the period. Institutional investors and hedge funds own 68.71% of the company’s stock.

In related news, EVP Robert A. Herman sold 47,433 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $103.17, for a total transaction of $4,893,662.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by corporate insiders.



A number of analysts have recently commented on the stock. ValuEngine cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Raymond James boosted their target price on shares of Phillips 66 from $110.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Scotiabank assumed coverage on shares of Phillips 66 in a research note on Tuesday, September 3rd. They set an “outperform” rating for the company. Cowen boosted their target price on shares of Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Citigroup raised shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research note on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $115.55.

NYSE PSX traded up $0.37 during trading hours on Thursday, hitting $103.36. 14,302 shares of the company’s stock traded hands, compared to its average volume of 2,170,568. Phillips 66 has a 52-week low of $78.44 and a 52-week high of $119.14. The company has a market capitalization of $46.66 billion, a PE ratio of 8.83, a PEG ratio of 2.12 and a beta of 1.08. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.28 and a quick ratio of 0.82. The firm’s 50-day moving average is $99.56 and its 200-day moving average is $94.75.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.32. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. The company had revenue of $28.52 billion during the quarter, compared to analysts’ expectations of $29.89 billion. During the same quarter in the prior year, the company earned $2.80 EPS. Equities research analysts predict that Phillips 66 will post 7.55 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a dividend of $0.90 per share. The ex-dividend date was Monday, August 19th. This represents a $3.60 annualized dividend and a yield of 3.48%. Phillips 66’s dividend payout ratio is presently 30.74%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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