Intact Investment Management Inc. Takes Position in Phillips 66 (NYSE:PSX)

Intact Investment Management Inc. bought a new stake in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 600 shares of the oil and gas company’s stock, valued at approximately $68,000.

Several other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. increased its holdings in Phillips 66 by 10.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after acquiring an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. purchased a new stake in Phillips 66 in the 4th quarter worth $1,190,000. Everence Capital Management Inc. purchased a new stake in shares of Phillips 66 during the fourth quarter worth $3,033,000. Donoghue Forlines LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth $1,438,000. Finally, Mizuho Securities USA LLC grew its holdings in shares of Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 3.5 %

NYSE PSX opened at $126.84 on Friday. The firm’s 50-day moving average is $122.82 and its two-hundred day moving average is $125.97. Phillips 66 has a 12 month low of $108.91 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a market capitalization of $51.71 billion, a P/E ratio of 25.68, a PEG ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm posted $3.09 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.63%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of research reports. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company upped their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Finally, Barclays upped their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $149.43.

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.