CIBC Private Wealth Group LLC Acquires 15,385 Shares of Phillips 66 (NYSE:PSX)

CIBC Private Wealth Group LLC raised its holdings in shares of Phillips 66 (NYSE:PSX) by 13.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,244 shares of the oil and gas company’s stock after buying an additional 15,385 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Phillips 66 were worth $15,025,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PSX. Oppenheimer & Co. Inc. raised its stake in Phillips 66 by 10.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after purchasing an additional 4,515 shares during the last quarter. Flavin Financial Services Inc. bought a new stake in shares of Phillips 66 in the fourth quarter valued at about $1,190,000. Everence Capital Management Inc. acquired a new stake in Phillips 66 during the fourth quarter worth about $3,033,000. Donoghue Forlines LLC bought a new position in Phillips 66 during the fourth quarter valued at about $1,438,000. Finally, Smith Group Asset Management LLC bought a new position in Phillips 66 during the fourth quarter valued at about $1,149,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Up 1.6 %

NYSE:PSX opened at $123.72 on Tuesday. The company has a market cap of $50.44 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock’s fifty day moving average price is $124.82 and its two-hundred day moving average price is $125.50. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08.

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 (EPS) for the quarter, missing the consensus estimate 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 period last year, the business posted $3.09 EPS. On average, analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.72%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. 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. Barclays increased their price objective 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, March 14th. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $146.43.

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.