Phillips 66 (NYSE:PSX) Shares Acquired by KBC Group NV

KBC Group NV grew its holdings in Phillips 66 (NYSE:PSX - Free Report) by 59.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,500 shares of the oil and gas company's stock after buying an additional 19,108 shares during the period. KBC Group NV's holdings in Phillips 66 were worth $6,770,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PSX. Mitchell & Pahl Private Wealth LLC raised its position in Phillips 66 by 0.4% during the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company's stock valued at $2,519,000 after purchasing an additional 74 shares during the period. Catalyst Financial Partners LLC boosted its stake in Phillips 66 by 5.1% during the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company's stock worth $214,000 after buying an additional 74 shares during the period. Advisory Alpha LLC raised its stake in shares of Phillips 66 by 4.8% in the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company's stock valued at $233,000 after acquiring an additional 76 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of Phillips 66 by 1.8% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company's stock worth $616,000 after purchasing an additional 77 shares during the period. Finally, Krane Funds Advisors LLC grew its holdings in Phillips 66 by 3.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company's stock valued at $309,000 after purchasing an additional 82 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PSX has been the subject of a number of research analyst reports. Raymond James lifted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $182.00 to $167.00 and set an "overweight" rating on the stock in a report on Wednesday, October 9th. TD Cowen cut their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. Finally, Bank of America began 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. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $149.69.

Phillips 66 Trading Up 0.9 %

Shares of NYSE PSX traded up $1.15 during mid-day trading on Friday, reaching $130.91. 2,275,131 shares of the company's stock were exchanged, compared to its average volume of 2,386,360. Phillips 66 has a 52-week low of $111.90 and a 52-week high of $174.08. The company's 50-day moving average is $129.75 and its 200-day moving average is $135.76. The firm has a market capitalization of $54.06 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 4.29 and a beta of 1.33. 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 (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 for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business's quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.63 earnings per share. Analysts expect that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.51%. Phillips 66's payout ratio is currently 59.05%.

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.