National Bank of Canada FI Grows Position in Phillips 66 (NYSE:PSX)

National Bank of Canada FI increased its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 150.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 458,395 shares of the oil and gas company's stock after acquiring an additional 275,590 shares during the quarter. National Bank of Canada FI owned approximately 0.10% of Phillips 66 worth $61,561,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signature Resources Capital Management LLC acquired a new stake in Phillips 66 in the 4th quarter valued at $33,000. Cornerstone Planning Group LLC raised its holdings in Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company's stock worth $32,000 after buying an additional 151 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Phillips 66 in the fourth quarter valued at $36,000. West Branch Capital LLC grew its holdings in shares of Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company's stock valued at $37,000 after buying an additional 91 shares during the last quarter. Finally, Bell Investment Advisors Inc increased its position in shares of Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company's stock worth $37,000 after acquiring an additional 138 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PSX has been the topic of several recent research reports. Bank of America raised their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a "neutral" rating in a research report on Friday, March 15th. Mizuho dropped their target price on Phillips 66 from $167.00 to $162.00 and set a "neutral" rating on the stock in a report on Friday, April 12th. Wells Fargo & Company upped their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an "overweight" rating in a report on Monday, April 8th. Scotiabank raised their price objective on Phillips 66 from $148.00 to $156.00 and gave the company a "sector outperform" rating in a research note on Thursday, April 11th. Finally, Barclays cut their price objective on shares of Phillips 66 from $155.00 to $147.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $157.43.

Phillips 66 Stock Performance

PSX stock traded down $0.26 during mid-day trading on Friday, hitting $143.61. The company had a trading volume of 1,806,203 shares, compared to its average volume of 2,353,122. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.02 and a current ratio of 1.17. The firm has a market cap of $60.88 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The stock's fifty day moving average price is $155.55 and its two-hundred day moving average price is $138.35.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion during the quarter, compared to analysts' expectations of $35.87 billion. During the same quarter in the previous year, the company posted $4.21 EPS. On average, analysts forecast that Phillips 66 will post 13.17 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a $1.15 dividend. This is a boost from Phillips 66's previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Friday, May 17th. Phillips 66's payout ratio is currently 32.31%.

Insider Buying and Selling at Phillips 66

In other news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Pease purchased 682 shares of the firm's stock in a transaction dated Thursday, February 15th. The stock was purchased at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the acquisition, the director now owns 1,900 shares of the company's stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders have sold a total of 35,056 shares of company stock valued at $5,272,681 over the last three months. 0.22% of the stock is currently owned by insiders.

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.