KBC Group NV Has $3.88 Million Stake in Phillips 66 (NYSE:PSX)

KBC Group NV reduced its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 10.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 31,433 shares of the oil and gas company's stock after selling 3,769 shares during the period. KBC Group NV's holdings in Phillips 66 were worth $3,881,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of PSX. J.Safra Asset Management Corp purchased a new stake in Phillips 66 in the 4th quarter valued at $25,000. Pacific Center for Financial Services purchased a new position in Phillips 66 during the 4th quarter worth $27,000. Graney & King LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth $28,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Phillips 66 in the fourth quarter valued at about $29,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at about $29,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert W. Pease purchased 439 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was acquired at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the acquisition, the director directly owned 4,091 shares of the company's stock, valued at $465,760.35. This represents a 12.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction 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. This trade represents a 14.71% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.22% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Compass Point assumed coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a "buy" rating for the company. Cantor Fitzgerald assumed coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a "neutral" rating for the company. Wells Fargo & Company dropped their price target on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Barclays boosted their price objective on Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Finally, Scotiabank decreased their target price on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Phillips 66 currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.93.

Phillips 66 Stock Up 2.6%

NYSE:PSX opened at $126.36 on Thursday. The firm has a market cap of $51.48 billion, a P/E ratio of 28.78, a P/E/G ratio of 1.93 and a beta of 1.02. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23. The firm has a 50-day simple moving average of $116.04 and a two-hundred day simple moving average of $116.90. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The firm had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. During the same quarter last year, the business earned $1.90 earnings per share. Analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $1.20 dividend. The ex-dividend date was Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 3.80%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio is currently 109.34%.

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.

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