Phillips 66 (NYSE:PSX) Stock Position Reduced by KBC Group NV

KBC Group NV lessened its stake in Phillips 66 (NYSE:PSX) by 31.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new stake in shares of Phillips 66 during the third quarter worth $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 in the 3rd quarter worth about $30,000. Point72 Hong Kong Ltd acquired a new stake in shares of Phillips 66 during the 3rd quarter valued at about $40,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Phillips 66 during the 4th quarter valued at about $47,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Phillips 66 in the second quarter worth approximately $51,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Scotiabank decreased their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Mizuho cut their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. UBS Group decreased their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Stock Performance

NYSE PSX opened at $120.71 on Friday. The company’s fifty day moving average is $121.08 and its two-hundred day moving average is $128.77. The firm has a market capitalization of $49.85 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 3.78 and a beta of 1.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08.

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