KBC Group NV Buys 19,108 Shares of Phillips 66 (NYSE:PSX)

KBC Group NV increased its stake in shares of Phillips 66 (NYSE:PSX) by 59.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 51,500 shares of the oil and gas company’s stock after purchasing an additional 19,108 shares during the quarter. KBC Group NV’s holdings in Phillips 66 were worth $6,770,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Mitchell & Pahl Private Wealth LLC grew its holdings in shares of Phillips 66 by 0.4% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after purchasing an additional 74 shares during the last quarter. Catalyst Financial Partners LLC increased its position in shares of Phillips 66 by 5.1% in the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock valued at $214,000 after acquiring an additional 74 shares during the period. Advisory Alpha LLC raised its stake 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 valued at $233,000 after acquiring an additional 76 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of Phillips 66 by 1.8% during the second 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 stake in shares of Phillips 66 by 3.6% in the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 82 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

PSX stock opened at $130.91 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm has a 50 day moving average price of $129.75 and a 200-day moving average price of $135.81. Phillips 66 has a 52-week low of $111.90 and a 52-week high of $174.08. The firm has a market capitalization of $54.06 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 4.26 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the previous year, the business earned $4.63 earnings per share. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. Equities research analysts forecast that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Analysts Set New Price Targets

PSX has been the subject of a number of recent analyst reports. Raymond James upped their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. TD Cowen reduced their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Barclays decreased their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.69.

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.