National Bank of Canada FI Has $129.27 Million Position in Phillips 66 (NYSE:PSX)

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

A number of other large investors also recently modified their holdings of the business. NewEdge Wealth LLC grew its position in Phillips 66 by 0.5% in the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock valued at $1,732,000 after buying an additional 81 shares in the last quarter. JBR Co Financial Management Inc raised its holdings in Phillips 66 by 0.9% during the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock worth $1,085,000 after purchasing an additional 85 shares in the last quarter. Nwam LLC lifted its position in Phillips 66 by 2.2% in the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock worth $442,000 after purchasing an additional 85 shares during the period. Webster Bank N. A. boosted its stake in Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 88 shares in the last quarter. Finally, PFG Private Wealth Management LLC boosted its stake in Phillips 66 by 7.7% during the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock valued at $140,000 after purchasing an additional 88 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several analysts have recently weighed in on the company. Piper Sandler lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Wolfe Research upgraded 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 research report on Friday, January 3rd. The Goldman Sachs Group cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective on the stock. in a research note on Thursday, March 27th. Barclays increased their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Finally, Mizuho decreased their price target on shares of Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.43.

Phillips 66 Stock Down 8.0 %

Shares of Phillips 66 stock traded down $8.53 during midday trading on Friday, hitting $98.65. The company's stock had a trading volume of 5,621,996 shares, compared to its average volume of 2,806,885. The firm has a market capitalization of $40.22 billion, a P/E ratio of 19.97, a PEG ratio of 4.84 and a beta of 1.31. Phillips 66 has a 1-year low of $95.71 and a 1-year high of $174.08. 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 stock has a 50-day simple moving average of $124.71 and a 200-day simple moving average of $125.35.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its 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. As a group, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66's dividend payout ratio (DPR) is presently 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.