ABN Amro Investment Solutions Purchases 3,147 Shares of Phillips 66 $PSX

ABN Amro Investment Solutions raised its position in Phillips 66 (NYSE:PSX) by 15.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,041 shares of the oil and gas company’s stock after purchasing an additional 3,147 shares during the period. ABN Amro Investment Solutions’ holdings in Phillips 66 were worth $4,380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Phillips 66 in the 4th quarter valued at about $640,206,000. M&T Bank Corp boosted its position in shares of Phillips 66 by 462.9% during the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after acquiring an additional 2,243,268 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Phillips 66 by 424.7% during the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after purchasing an additional 1,532,389 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in shares of Phillips 66 in the second quarter worth approximately $107,967,000. Finally, NewEdge Advisors LLC lifted its position in Phillips 66 by 732.0% during the fourth quarter. NewEdge Advisors LLC now owns 996,955 shares of the oil and gas company’s stock valued at $128,647,000 after purchasing an additional 877,131 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 11,021 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $18,504,361.28. This trade represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers purchased 175 shares of Phillips 66 stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the purchase, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 41,021 shares of company stock worth $7,195,257 in the last ninety days. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup upped their target price on shares of Phillips 66 from $183.00 to $204.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Barclays increased their price target on shares of Phillips 66 from $177.00 to $183.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Raymond James Financial lifted their price target on shares of Phillips 66 from $218.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Argus upped their price objective on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Finally, Morgan Stanley upped their price objective on shares of Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $198.72.

Phillips 66 Stock Down 0.4%

NYSE PSX opened at $211.49 on Thursday. Phillips 66 has a 1 year low of $118.07 and a 1 year high of $216.08. The stock has a market capitalization of $84.79 billion, a PE ratio of 20.84, a PEG ratio of 0.28 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The business’s 50-day moving average is $181.23 and its 200 day moving average is $167.47.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the prior year, the company posted ($0.90) EPS. Phillips 66’s quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts forecast that Phillips 66 will post 19.84 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s payout ratio is presently 50.05%.

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.