Bank of Montreal Can Has $214.12 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Bank of Montreal Can increased its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 63.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,633,876 shares of the oil and gas company's stock after acquiring an additional 633,970 shares during the period. Bank of Montreal Can owned about 0.40% of Phillips 66 worth $214,120,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp raised its holdings in Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company's stock worth $10,753,000 after acquiring an additional 60,355 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in Phillips 66 during the second quarter worth about $17,670,000. M&G Plc bought a new stake in Phillips 66 during the second quarter worth about $3,596,000. Mizuho Securities USA LLC raised its holdings in Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock worth $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in Phillips 66 by 318.9% during the first quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company's stock worth $23,284,000 after acquiring an additional 108,515 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

PSX has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 2nd. Barclays dropped their price objective on Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Monday, November 11th. Scotiabank dropped their price objective on Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Finally, TD Cowen dropped their price objective on Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $149.69.

Phillips 66 Price Performance

NYSE:PSX traded up $0.97 during trading hours on Tuesday, reaching $134.25. 2,705,535 shares of the company were exchanged, compared to its average volume of 2,664,939. The company has a market capitalization of $55.44 billion, a P/E ratio of 17.23, a P/E/G ratio of 4.40 and a beta of 1.33. Phillips 66 has a 1-year low of $117.32 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The business has a 50 day moving average of $130.52 and a 200 day moving average of $135.09.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) 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 quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.63 earnings per share. Research analysts forecast that Phillips 66 will post 7.57 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66's dividend payout ratio is currently 59.05%.

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.