KBC Group NV Has $4.01 Million Stake in Phillips 66 (NYSE:PSX)

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

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

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Scotiabank reduced their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Mizuho decreased their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wolfe Research upgraded 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 report on Friday, January 3rd. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Price Performance

Shares of PSX opened at $120.71 on Friday. The stock has a market cap of $49.85 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 3.78 and a beta of 1.38. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The stock’s 50-day moving average price is $121.08 and its two-hundred day moving average price is $128.77. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $4.63 EPS. On average, equities analysts predict that Phillips 66 will post 6.41 earnings per share for the current year.

Phillips 66 Profile

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.