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

ING Groep NV cut its holdings in Phillips 66 (NYSE:PSX) by 9.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,072,747 shares of the oil and gas company’s stock after selling 110,233 shares during the period. Phillips 66 comprises approximately 0.8% of ING Groep NV’s holdings, making the stock its 21st largest position. ING Groep NV’s holdings in Phillips 66 were worth $122,218,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PSX. Mizuho Securities USA LLC boosted its stake in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. Bank of Montreal Can boosted its stake in Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after purchasing an additional 633,970 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in Phillips 66 during the 3rd quarter valued at about $70,983,000. Assenagon Asset Management S.A. boosted its stake in Phillips 66 by 73.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock valued at $96,294,000 after purchasing an additional 309,507 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new position in Phillips 66 during the 3rd quarter valued at about $34,042,000. 76.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PSX has been the subject of a number of analyst reports. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, February 14th. UBS Group cut their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Barclays cut their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, 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 research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Price Performance

Phillips 66 stock opened at $130.12 on Thursday. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The business’s 50 day simple moving average is $118.90 and its 200 day simple moving average is $127.10. The company has a market cap of $53.74 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 4.79 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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 net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the company posted $3.09 earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently declared 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 of this dividend is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

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.