National Bank of Canada FI Acquires 709,219 Shares of Phillips 66 (NYSE:PSX)

National Bank of Canada FI grew its holdings in Phillips 66 (NYSE:PSX) by 166.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,134,582 shares of the oil and gas company’s stock after purchasing an additional 709,219 shares during the period. National Bank of Canada FI owned approximately 0.27% of Phillips 66 worth $129,266,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PSX. Rodgers Brothers Inc. grew its position in Phillips 66 by 2.9% in the fourth quarter. Rodgers Brothers Inc. now owns 49,413 shares of the oil and gas company’s stock valued at $5,630,000 after acquiring an additional 1,400 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Phillips 66 by 1.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,062,016 shares of the oil and gas company’s stock valued at $120,995,000 after purchasing an additional 12,544 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in Phillips 66 by 4.1% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 2,719 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 108 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Phillips 66 by 42.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 93,435 shares of the oil and gas company’s stock valued at $10,645,000 after purchasing an additional 27,891 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Phillips 66 by 1.6% in the 4th quarter. Clearbridge Investments LLC now owns 33,517 shares of the oil and gas company’s stock valued at $3,819,000 after purchasing an additional 534 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.43.

Phillips 66 Price Performance

PSX stock opened at $123.72 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a market cap of $50.44 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 4.84 and a beta of 1.31. The company’s fifty day simple moving average is $124.82 and its 200 day simple moving average is $125.50. Phillips 66 has a 12-month low of $108.91 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the company earned $3.09 earnings per share. On average, analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

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.