Phillips 66 (NYSE:PSX) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI increased its position in Phillips 66 (NYSE:PSX) by 21.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 346,984 shares of the oil and gas company’s stock after purchasing an additional 60,982 shares during the period. National Bank of Canada FI owned 0.08% of Phillips 66 worth $48,897,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at about $25,000. Keener Financial Planning LLC purchased a new stake in Phillips 66 during the 1st quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Phillips 66 during the 4th quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new stake in Phillips 66 during the 1st quarter worth approximately $28,000. Finally, First United Bank & Trust purchased a new position in shares of Phillips 66 in the 4th quarter valued at approximately $31,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PSX shares. TD Cowen lifted their price objective on shares of Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Mizuho reduced their target price on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday. Piper Sandler cut their price target on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $157.85.

Phillips 66 Price Performance

Shares of PSX stock opened at $128.89 on Friday. The firm has a fifty day simple moving average of $137.42 and a 200-day simple moving average of $144.93. The company has a market capitalization of $53.95 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 2.53 and a beta of 1.33. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.87 EPS. Equities research analysts anticipate that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a dividend of $1.15 per share. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.57%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.22% of the stock is owned by company insiders.

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.