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

National Bank of Canada FI reduced its position in Phillips 66 (NYSE:PSX) by 37.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 286,002 shares of the oil and gas company’s stock after selling 172,393 shares during the quarter. National Bank of Canada FI owned about 0.07% of Phillips 66 worth $46,716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keener Financial Planning LLC purchased a new position in shares of Phillips 66 in the 1st quarter worth about $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in Phillips 66 in the fourth quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new position in Phillips 66 during the first quarter valued at approximately $28,000. First United Bank & Trust purchased a new stake in Phillips 66 during the fourth quarter worth approximately $31,000. Finally, Ruedi Wealth Management Inc. grew its stake in Phillips 66 by 102.1% during the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX traded up $1.10 during mid-day trading on Wednesday, reaching $138.17. 1,856,702 shares of the company’s stock traded hands, compared to its average volume of 2,681,200. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The business’s 50-day moving average price is $139.31 and its 200-day moving average price is $145.35. The stock has a market capitalization of $58.58 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 2.32 and a beta of 1.34. Phillips 66 has a 12 month low of $105.56 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share 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 business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the previous year, the firm earned $4.21 EPS. Equities analysts predict that Phillips 66 will post 10.06 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be given a $1.15 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.33%. Phillips 66’s dividend payout ratio is presently 35.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PSX shares. Argus restated a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a report on Thursday, May 30th. Raymond James cut their price objective on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Piper Sandler decreased their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Barclays dropped their target price on Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Finally, TD Cowen decreased their price target on Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a report on Friday, June 21st. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.23.

Insider Buying and Selling at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is owned by corporate 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.