ING Groep NV Sells 110,233 Shares of Phillips 66 (NYSE:PSX)

ING Groep NV lessened its stake in shares of Phillips 66 (NYSE:PSX) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,072,747 shares of the oil and gas company’s stock after selling 110,233 shares during the period. Phillips 66 accounts for about 0.8% of ING Groep NV’s portfolio, making the stock its 21st biggest position. ING Groep NV owned about 0.26% of Phillips 66 worth $122,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its stake in Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 120 shares during the period. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the 3rd quarter valued at $26,000. Stephens Consulting LLC boosted its holdings in shares of Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 in the 3rd quarter valued at $30,000. Finally, Human Investing LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at $30,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.1 %

Shares of PSX opened at $130.12 on Thursday. The company has a market capitalization of $53.74 billion, a PE ratio of 26.34, a PEG ratio of 4.79 and a beta of 1.37. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The stock’s 50-day moving average price is $118.90 and its two-hundred day moving average price is $127.10. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the company earned $3.09 EPS. On average, analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Analysts Set New Price Targets

PSX has been the topic of a number of research analyst reports. Mizuho reduced their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a 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. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company raised their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $148.00.

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.