Phillips 66 (NYSE:PSX) Stock Position Reduced by Bank of Montreal Can

Bank of Montreal Can lowered its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 52.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 776,796 shares of the oil and gas company's stock after selling 857,080 shares during the period. Bank of Montreal Can owned 0.19% of Phillips 66 worth $88,500,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Oppenheimer & Co. Inc. increased its stake in shares of Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company's stock valued at $5,349,000 after purchasing an additional 4,515 shares during the period. Flavin Financial Services Inc. bought a new position in Phillips 66 in the 4th quarter worth approximately $1,190,000. Everence Capital Management Inc. acquired a new stake in Phillips 66 in the 4th quarter valued at approximately $3,033,000. Donoghue Forlines LLC bought a new stake in Phillips 66 during the 4th quarter valued at $1,438,000. Finally, Smith Group Asset Management LLC acquired a new position in Phillips 66 during the 4th quarter worth $1,149,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PSX. Wolfe Research raised shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Barclays reduced their price target on shares of Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating for the company in a research note on Thursday. StockNews.com lowered shares of Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday, March 2nd. The Goldman Sachs Group downgraded Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a research report on Thursday, March 27th. Finally, Wells Fargo & Company lifted their price target on Phillips 66 from $161.00 to $162.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average target price of $142.00.

Phillips 66 Trading Down 0.0 %

NYSE PSX traded down $0.02 on Monday, hitting $97.36. 447,331 shares of the company were exchanged, compared to its average volume of 2,877,854. 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 twelve month low of $91.01 and a twelve month high of $165.00. The firm has a market capitalization of $39.69 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. The company's 50 day moving average price is $120.96 and its 200-day moving average price is $123.50.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results 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 quarter last year, the business posted $3.09 EPS. Analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $1.15 per share. The ex-dividend date was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.72%. Phillips 66's dividend payout ratio is 93.12%.

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.