Robeco Institutional Asset Management B.V. Purchases 169,186 Shares of Phillips 66 $PSX

Robeco Institutional Asset Management B.V. lifted its position in Phillips 66 (NYSE:PSX) by 4,764.5% in the third quarter, Holdings Channel.com reports. The firm owned 172,737 shares of the oil and gas company’s stock after purchasing an additional 169,186 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Phillips 66 were worth $23,496,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PSX. Evolution Wealth Management Inc. purchased a new stake in Phillips 66 in the second quarter worth approximately $25,000. Wolff Wiese Magana LLC lifted its holdings in shares of Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 82 shares during the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Phillips 66 in the 2nd quarter worth approximately $32,000. Webster Bank N. A. boosted its stake in shares of Phillips 66 by 58.8% in the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Finally, Nova Wealth Management Inc. bought a new position in shares of Phillips 66 during the 1st quarter valued at $37,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on PSX shares. Jefferies Financial Group boosted their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Morgan Stanley raised their price objective on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. Piper Sandler lowered their target price on Phillips 66 from $171.00 to $155.00 and set a “neutral” rating for the company in a research note on Thursday. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 18th. Finally, Mizuho raised their price target on Phillips 66 from $145.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $146.88.

Phillips 66 Stock Performance

Phillips 66 stock opened at $144.30 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The firm has a market cap of $58.14 billion, a P/E ratio of 39.43, a P/E/G ratio of 0.37 and a beta of 0.90. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $144.96. The firm has a 50-day moving average of $135.74 and a 200-day moving average of $131.09.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The company had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter in the previous year, the business earned $2.04 EPS. Sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the sale, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brian Mandell sold 26,200 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,825,455.84. The trade was a 31.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 81,700 shares of company stock worth $11,318,236 over the last three months. Insiders own 0.22% of the company’s stock.

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.