Intact Investment Management Inc. Makes New Investment in Phillips 66 (NYSE:PSX)

Intact Investment Management Inc. purchased a new position in shares of Phillips 66 (NYSE:PSX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 600 shares of the oil and gas company’s stock, valued at approximately $68,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. LBP AM SA increased its stake in shares of Phillips 66 by 217.9% during the fourth quarter. LBP AM SA now owns 68,923 shares of the oil and gas company’s stock worth $7,852,000 after buying an additional 47,242 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in shares of Phillips 66 by 8.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 3,222 shares of the oil and gas company’s stock worth $367,000 after buying an additional 248 shares during the period. Impact Capital Partners LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth approximately $744,000. HBK Sorce Advisory LLC increased its stake in shares of Phillips 66 by 0.8% during the fourth quarter. HBK Sorce Advisory LLC now owns 17,574 shares of the oil and gas company’s stock worth $2,002,000 after buying an additional 143 shares during the period. Finally, Vestcor Inc increased its stake in shares of Phillips 66 by 7.8% during the fourth quarter. Vestcor Inc now owns 17,690 shares of the oil and gas company’s stock worth $2,015,000 after buying an additional 1,273 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

PSX stock opened at $126.84 on Friday. The company 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 has a twelve month low of $108.91 and a twelve month high of $174.08. The business has a 50 day simple moving average of $122.82 and a 200-day simple moving average of $125.97. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the company earned $3.09 EPS. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a $1.15 dividend. The ex-dividend date 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 93.12%.

Wall Street Analyst Weigh In

PSX has been the topic of a number of recent research reports. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Barclays increased their price target on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday. Mizuho dropped their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.43.

About Phillips 66

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.