KBC Group NV Sells 16,298 Shares of Phillips 66 (NYSE:PSX)

KBC Group NV cut its holdings in Phillips 66 (NYSE:PSX - Free Report) by 31.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,202 shares of the oil and gas company's stock after selling 16,298 shares during the period. KBC Group NV's holdings in Phillips 66 were worth $4,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Phillips 66 by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 39,449 shares of the oil and gas company's stock worth $5,569,000 after buying an additional 2,596 shares in the last quarter. Advisory Alpha LLC boosted its holdings in shares of Phillips 66 by 4.8% during the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company's stock valued at $233,000 after purchasing an additional 76 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Phillips 66 during the 2nd quarter valued at about $51,000. Sanctuary Advisors LLC purchased a new position in shares of Phillips 66 during the second quarter valued at about $16,675,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Phillips 66 by 243.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 423,000 shares of the oil and gas company's stock worth $59,715,000 after purchasing an additional 300,000 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on PSX shares. Bank of America began coverage on Phillips 66 in a research note on Thursday, October 17th. They set a "buy" rating and a $156.00 price target for the company. Piper Sandler downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Barclays reduced their price target on shares of Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. Mizuho lowered their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a research report on Monday, December 16th. Finally, Wolfe Research raised shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.93.

Phillips 66 Trading Down 3.0 %

Shares of PSX traded down $3.60 during mid-day trading on Friday, reaching $117.24. 7,253,655 shares of the company's stock traded hands, compared to its average volume of 3,044,853. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a market cap of $48.42 billion, a P/E ratio of 15.05, a P/E/G ratio of 4.03 and a beta of 1.38. The stock's 50-day moving average is $120.86 and its two-hundred day moving average is $128.72.

Phillips 66 (NYSE:PSX - Get Free Report) last released its 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 return on equity of 13.12% and a net margin of 2.24%. During the same period in the prior year, the company earned $3.09 EPS. Research analysts forecast that Phillips 66 will post 6.27 earnings per share for the current fiscal year.

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.