ING Groep NV Sells 1,062,713 Shares of Phillips 66 (NYSE:PSX)

ING Groep NV lessened its stake in Phillips 66 (NYSE:PSX - Free Report) by 99.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,034 shares of the oil and gas company's stock after selling 1,062,713 shares during the quarter. ING Groep NV's holdings in Phillips 66 were worth $1,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Cohen & Steers Inc. grew its holdings in shares of Phillips 66 by 40.3% in the fourth quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company's stock worth $10,443,000 after acquiring an additional 26,318 shares during the period. Cary Street Partners Financial LLC purchased a new stake in shares of Phillips 66 during the 4th quarter valued at about $4,333,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Phillips 66 by 20.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock valued at $19,625,000 after purchasing an additional 26,825 shares during the last quarter. Alta Advisers Ltd purchased a new position in shares of Phillips 66 in the first quarter worth approximately $253,000. Finally, Advisory Resource Group grew its position in Phillips 66 by 6.8% during the first quarter. Advisory Resource Group now owns 256,327 shares of the oil and gas company's stock valued at $31,651,000 after buying an additional 16,300 shares during the period. Institutional investors own 76.93% of the company's stock.

Insider Buying and Selling

In other news, Director Michael A. Heim bought 1,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was acquired at an average cost of $125.97 per share, with a total value of $125,970.00. Following the transaction, the director directly owned 12,043 shares in the company, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,104,750. The trade was a 14.71% decrease in their position. The disclosure for this sale can be found here. Insiders bought 1,939 shares of company stock worth $237,725 over the last 90 days. Corporate insiders own 0.22% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on PSX. Piper Sandler reiterated a "neutral" rating and issued a $145.00 price target (up from $144.00) on shares of Phillips 66 in a research report on Monday. Tudor Pickering lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Morgan Stanley lifted their price target on shares of Phillips 66 from $122.00 to $128.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Raymond James Financial set a $142.00 price objective on shares of Phillips 66 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, Citigroup cut Phillips 66 from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Phillips 66 has an average rating of "Moderate Buy" and an average target price of $136.20.

Phillips 66 Trading Down 0.1%

Shares of NYSE PSX traded down $0.16 during midday trading on Friday, hitting $119.14. The company's stock had a trading volume of 1,694,152 shares, compared to its average volume of 2,537,577. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The business's 50 day moving average is $123.09 and its two-hundred day moving average is $118.91. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $140.85. The firm has a market cap of $48.15 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 1.61 and a beta of 1.09.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%. During the same quarter last year, the firm posted $2.31 earnings per share. As a group, equities research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's payout ratio is 115.38%.

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.