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

National Bank of Canada FI increased its position in shares of Phillips 66 (NYSE:PSX) by 166.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,134,582 shares of the oil and gas company’s stock after buying an additional 709,219 shares during the quarter. National Bank of Canada FI’s holdings in Phillips 66 were worth $129,266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after purchasing an additional 639,323 shares during the period. Norges Bank acquired a new position in Phillips 66 during the fourth quarter worth $497,648,000. Amundi raised its holdings in Phillips 66 by 25.7% during the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after buying an additional 753,653 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Phillips 66 by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company’s stock valued at $342,131,000 after buying an additional 101,108 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Phillips 66 during the fourth quarter valued at about $168,790,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. The Goldman Sachs Group cut Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a research report on Thursday, March 27th. Barclays upped their price target on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Finally, StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $146.43.

Phillips 66 Stock Performance

Shares of PSX stock opened at $123.72 on Tuesday. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08. The firm’s 50-day simple moving average is $124.82 and its two-hundred day simple moving average is $125.50. The firm has a market cap of $50.44 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 period in the previous year, the company posted $3.09 earnings per share. As a group, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.72%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

Phillips 66 Company 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.