ING Groep NV Trims Position in Phillips 66 (NYSE:PSX)

ING Groep NV lessened its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 9.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,072,747 shares of the oil and gas company's stock after selling 110,233 shares during the quarter. Phillips 66 makes up 0.8% of ING Groep NV's portfolio, making the stock its 21st largest holding. ING Groep NV owned 0.26% of Phillips 66 worth $122,218,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PSX. nVerses Capital LLC purchased a new stake in Phillips 66 in the 3rd quarter worth approximately $26,000. Bogart Wealth LLC boosted its position in shares of Phillips 66 by 120.0% in the fourth 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. Values First Advisors Inc. purchased a new stake in shares of Phillips 66 in the third quarter worth $30,000. Stephens Consulting LLC increased its stake in shares of Phillips 66 by 83.5% in the fourth 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 in the last quarter. Finally, Human Investing LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at $30,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Down 0.4 %

PSX stock traded down $0.55 during midday trading on Monday, reaching $127.08. 2,075,644 shares of the company traded hands, compared to its average volume of 3,528,950. The firm has a market capitalization of $52.48 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 4.84 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The business has a 50 day moving average of $119.17 and a 200-day moving average of $127.03. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 business posted $3.09 EPS. As a group, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.62%. Phillips 66's dividend payout ratio is presently 93.12%.

Analyst Ratings Changes

Several brokerages recently weighed in on PSX. StockNews.com raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Saturday. Piper Sandler cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Mizuho dropped their price target on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Barclays lowered their target price on shares of Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.