National Bank of Canada FI Increases Stock Position in Phillips 66 (NYSE:PSX)

National Bank of Canada FI grew its holdings in Phillips 66 (NYSE:PSX) by 150.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 458,395 shares of the oil and gas company’s stock after buying an additional 275,590 shares during the quarter. National Bank of Canada FI’s holdings in Phillips 66 were worth $61,561,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Barclays PLC boosted its position in shares of Phillips 66 by 4.2% during the 3rd quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock worth $932,447,000 after purchasing an additional 309,239 shares in the last quarter. Morgan Stanley boosted its holdings in Phillips 66 by 2.1% during the third quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock worth $813,291,000 after buying an additional 138,646 shares in the last quarter. Northern Trust Corp grew its position in Phillips 66 by 6.2% during the third quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock worth $586,463,000 after buying an additional 283,010 shares during the period. LSV Asset Management increased its holdings in Phillips 66 by 2.0% in the fourth quarter. LSV Asset Management now owns 1,967,536 shares of the oil and gas company’s stock valued at $261,958,000 after buying an additional 38,673 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Phillips 66 by 21.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,946,809 shares of the oil and gas company’s stock valued at $233,909,000 after acquiring an additional 350,211 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 0.2 %

Phillips 66 stock traded down $0.26 during trading on Friday, hitting $143.61. The company’s stock had a trading volume of 1,806,203 shares, compared to its average volume of 2,353,122. The stock’s fifty day moving average is $155.55 and its 200 day moving average is $138.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.02 and a current ratio of 1.17. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The stock has a market capitalization of $60.88 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share 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 company had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter in the previous year, the company earned $4.21 earnings per share. As a group, equities research analysts predict that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.20%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is presently 32.31%.

Insider Buying and Selling

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Phillips 66 news, Director Robert W. Pease purchased 682 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average cost of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Bank of America upped their price target on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Mizuho dropped their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Scotiabank boosted their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Finally, Barclays reduced their price target on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $157.43.

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.