Bank of Montreal Can Purchases 27,240 Shares of Phillips 66 $PSX

Bank of Montreal Can boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 666,446 shares of the oil and gas company’s stock after acquiring an additional 27,240 shares during the period. Bank of Montreal Can owned approximately 0.17% of Phillips 66 worth $90,650,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Evolution Wealth Management Inc. bought a new position in shares of Phillips 66 during the second quarter worth about $25,000. Winnow Wealth LLC bought a new position in shares of Phillips 66 during the 3rd quarter worth approximately $36,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Phillips 66 in the second quarter valued at approximately $32,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the second quarter valued at approximately $38,000. Finally, AXS Investments LLC bought a new stake in shares of Phillips 66 in the third quarter worth $44,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on PSX shares. Wolfe Research lifted their price target on shares of Phillips 66 from $159.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Wells Fargo & Company increased their price objective on shares of Phillips 66 from $162.00 to $163.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Argus raised their price objective on Phillips 66 from $152.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. UBS Group reaffirmed a “buy” rating and issued a $172.00 target price on shares of Phillips 66 in a research report on Friday, February 6th. Finally, Wall Street Zen upgraded Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Phillips 66 has an average rating of “Hold” and an average target price of $160.11.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 16,856 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $168.22, for a total value of $2,835,516.32. Following the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $16,380,590.72. This trade represents a 14.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Don Baldridge sold 7,500 shares of Phillips 66 stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the executive vice president directly owned 38,488 shares in the company, valued at $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 38,088 shares of company stock valued at $6,147,655 in the last quarter. Company insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 4.3%

Shares of NYSE:PSX opened at $169.41 on Thursday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $169.62. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30. The company has a market capitalization of $67.89 billion, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 0.56 and a beta of 0.86. The company has a 50-day simple moving average of $149.69 and a 200 day simple moving average of $139.51.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The firm had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. During the same quarter in the previous year, the business earned ($0.15) earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, February 23rd. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio (DPR) is 46.95%.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.