National Bank of Canada FI lifted its stake in shares of Phillips 66 (NYSE:PSX – Get Rating) by 149.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,376 shares of the oil and gas company’s stock after acquiring an additional 24,221 shares during the period. National Bank of Canada FI’s holdings in Phillips 66 were worth $4,203,000 as of its most recent SEC filing.
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A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Phillips 66 by 1.9% during the third quarter. Vanguard Group Inc. now owns 50,644,106 shares of the oil and gas company’s stock valued at $4,087,993,000 after acquiring an additional 966,125 shares during the last quarter. State Street Corp boosted its stake in Phillips 66 by 1.1% in the 3rd quarter. State Street Corp now owns 33,013,657 shares of the oil and gas company’s stock worth $2,664,862,000 after buying an additional 345,132 shares during the last quarter. Wellington Management Group LLP boosted its stake in Phillips 66 by 62.1% in the 1st quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock worth $620,979,000 after buying an additional 2,753,700 shares during the last quarter. Northern Trust Corp boosted its stake in Phillips 66 by 4.0% in the 1st quarter. Northern Trust Corp now owns 5,014,505 shares of the oil and gas company’s stock worth $433,203,000 after buying an additional 192,451 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Phillips 66 by 12.0% in the 2nd quarter. Legal & General Group Plc now owns 3,843,576 shares of the oil and gas company’s stock worth $315,135,000 after buying an additional 413,085 shares during the last quarter. Institutional investors and hedge funds own 70.76% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. Morgan Stanley raised their price target on Phillips 66 from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Friday, January 20th. StockNews.com raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on Phillips 66 from $112.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, March 28th. Wells Fargo & Company cut their price objective on Phillips 66 from $134.00 to $127.00 and set an “overweight” rating on the stock in a report on Thursday, January 5th. Finally, UBS Group assumed coverage on Phillips 66 in a report on Wednesday, March 8th. They issued a “buy” rating and a $139.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.80.
Phillips 66 Stock Performance
Shares of NYSE:PSX opened at $102.84 on Friday. Phillips 66 has a one year low of $74.02 and a one year high of $113.53. The business’s 50-day simple moving average is $100.68 and its 200 day simple moving average is $100.67. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.38. The company has a market cap of $47.71 billion, a P/E ratio of 4.48, a PEG ratio of 0.33 and a beta of 1.38.
Phillips 66 (NYSE:PSX – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $4.00 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.35). Phillips 66 had a net margin of 6.27% and a return on equity of 31.20%. The business had revenue of $40.91 billion for the quarter, compared to analyst estimates of $34.30 billion. During the same quarter last year, the business earned $2.94 EPS. On average, sell-side analysts forecast that Phillips 66 will post 15.88 earnings per share for the current fiscal year.
Phillips 66 Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Tuesday, February 21st were paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Friday, February 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $0.97. Phillips 66’s dividend payout ratio (DPR) is 18.30%.
Insider Buying and Selling at Phillips 66
In other Phillips 66 news, Director Gregory Hayes acquired 10,250 shares of the stock in a transaction on Thursday, February 2nd. The stock was purchased at an average price of $97.75 per share, for a total transaction of $1,001,937.50. Following the purchase, the director now directly owns 14,299 shares in the company, valued at $1,397,727.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.74% of the stock is owned by insiders.
About Phillips 66
Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.
See Also
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