Boston Partners Decreases Holdings in Phillips 66 (NYSE:PSX)

Boston Partners trimmed its position in shares of Phillips 66 (NYSE:PSX) by 14.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,552,200 shares of the oil and gas company’s stock after selling 441,217 shares during the quarter. Boston Partners’ holdings in Phillips 66 were worth $291,064,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bogart Wealth LLC increased its stake in Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 120 shares during the period. J.Safra Asset Management Corp purchased a new position in Phillips 66 in the 4th quarter worth approximately $25,000. Stephens Consulting LLC increased its stake in Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 111 shares during the period. Human Investing LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth approximately $30,000. Finally, Webster Bank N. A. grew its position in shares of Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after buying an additional 88 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price objective on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday. Mizuho dropped their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Wells Fargo & Company boosted their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.43.

Phillips 66 Price Performance

NYSE:PSX opened at $129.27 on Tuesday. The firm has a market capitalization of $52.70 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 4.84 and a beta of 1.31. The business has a 50 day simple moving average of $123.11 and a 200-day simple moving average of $125.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1 year low of $108.91 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the firm posted $3.09 earnings per share. Equities analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.56%. Phillips 66’s payout ratio is 93.12%.

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.