ING Groep NV Has $377,000 Holdings in Phillips 66 (NYSE:PSX)

ING Groep NV cut its position in Phillips 66 (NYSE:PSX) by 96.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,831 shares of the oil and gas company’s stock after selling 78,671 shares during the period. ING Groep NV’s holdings in Phillips 66 were worth $377,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Boston Partners boosted its position in Phillips 66 by 962.0% in the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after buying an additional 3,494,878 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Phillips 66 during the fourth quarter worth approximately $254,336,000. Acadian Asset Management LLC lifted its position in shares of Phillips 66 by 1,038.3% during the third quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock worth $56,720,000 after purchasing an additional 430,723 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Phillips 66 by 53.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock worth $145,951,000 after purchasing an additional 421,714 shares in the last quarter. Finally, Nomura Holdings Inc. lifted its position in shares of Phillips 66 by 10,239.5% during the third quarter. Nomura Holdings Inc. now owns 399,000 shares of the oil and gas company’s stock worth $47,940,000 after purchasing an additional 395,141 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Scotiabank boosted their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Bank of America boosted their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.21.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,864 shares of company stock worth $7,567,178. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Down 0.9 %

Phillips 66 stock opened at $142.90 on Thursday. The stock has a market capitalization of $60.58 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.96 and a beta of 1.41. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $155.14 and a 200-day moving average of $141.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same quarter in the previous year, the company posted $4.21 EPS. On average, equities research analysts anticipate that Phillips 66 will post 12.26 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a dividend of $1.15 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.22%. Phillips 66’s dividend payout ratio is presently 35.38%.

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.