Bank of Montreal Can Has $140.28 Million Holdings in Phillips 66 (NYSE:PSX)

Bank of Montreal Can grew its position in Phillips 66 (NYSE:PSX) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 999,906 shares of the oil and gas company’s stock after purchasing an additional 29,952 shares during the period. Bank of Montreal Can owned approximately 0.24% of Phillips 66 worth $140,277,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PSX. Evergreen Capital Management LLC boosted its position in Phillips 66 by 4.1% during the second quarter. Evergreen Capital Management LLC now owns 4,496 shares of the oil and gas company’s stock worth $635,000 after purchasing an additional 179 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of Phillips 66 by 3.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 73,788 shares of the oil and gas company’s stock worth $10,417,000 after buying an additional 2,283 shares during the last quarter. DRW Securities LLC grew its stake in Phillips 66 by 998.1% in the 2nd quarter. DRW Securities LLC now owns 16,000 shares of the oil and gas company’s stock valued at $2,277,000 after buying an additional 14,543 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Phillips 66 by 7.4% during the second quarter. EverSource Wealth Advisors LLC now owns 5,165 shares of the oil and gas company’s stock worth $751,000 after acquiring an additional 354 shares during the last quarter. Finally, Gabelli Funds LLC raised its stake in Phillips 66 by 43.3% in the 2nd quarter. Gabelli Funds LLC now owns 144,200 shares of the oil and gas company’s stock worth $20,357,000 after purchasing an additional 43,600 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the topic of several research analyst reports. Barclays raised their price objective on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. reduced their price target on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. TD Cowen cut their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Wolfe Research started coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Piper Sandler lowered their target price on Phillips 66 from $151.00 to $136.00 and set an “overweight” rating for the company in a report on Friday. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $154.21.

Phillips 66 Trading Up 0.9 %

NYSE:PSX opened at $131.11 on Tuesday. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The firm has a 50-day moving average of $135.02 and a 200-day moving average of $143.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The company has a market cap of $55.58 billion, a PE ratio of 10.09, a PEG ratio of 4.67 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same period last year, the business posted $3.87 earnings per share. Phillips 66’s revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts expect that Phillips 66 will post 9.1 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 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.