ING Groep NV Purchases 653,032 Shares of Phillips 66 (NYSE:PSX)

ING Groep NV lifted its holdings in Phillips 66 (NYSE:PSX - Free Report) by 123.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,182,980 shares of the oil and gas company's stock after buying an additional 653,032 shares during the quarter. Phillips 66 makes up about 0.9% of ING Groep NV's holdings, making the stock its 17th biggest holding. ING Groep NV owned 0.29% of Phillips 66 worth $155,503,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PSX. Boston Partners boosted its stake in Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company's stock worth $889,214,000 after purchasing an additional 1,595,722 shares in the last quarter. Vanguard Group Inc. lifted its stake in Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company's stock valued at $6,741,218,000 after acquiring an additional 1,578,669 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Phillips 66 by 96.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company's stock valued at $467,743,000 after acquiring an additional 1,408,954 shares during the period. Bank of New York Mellon Corp lifted its stake in Phillips 66 by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company's stock valued at $1,189,035,000 after acquiring an additional 402,925 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Phillips 66 by 1,087.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 432,003 shares of the oil and gas company's stock valued at $70,563,000 after acquiring an additional 395,617 shares during the period. Institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

PSX traded down $0.15 during trading on Thursday, reaching $129.76. 1,875,954 shares of the company traded hands, compared to its average volume of 2,664,371. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 12-month low of $111.90 and a 12-month high of $174.08. The firm has a fifty day simple moving average of $129.68 and a 200 day simple moving average of $136.00. The company has a market cap of $53.59 billion, a P/E ratio of 16.57, a PEG ratio of 4.18 and a beta of 1.33.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period last year, the firm posted $4.63 EPS. The company's revenue was down 10.3% on a year-over-year basis. On average, equities analysts forecast that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66's dividend payout ratio (DPR) is currently 59.05%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PSX. UBS Group lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their price target on shares of Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a research report on Wednesday, October 2nd. Bank of America initiated coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a "buy" rating and a $156.00 price target for the company. Mizuho reduced their price target on shares of Phillips 66 from $154.00 to $150.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. Finally, Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $149.69.

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.