CIBC Private Wealth Group LLC Has $15.03 Million Holdings in Phillips 66 (NYSE:PSX)

CIBC Private Wealth Group LLC grew its position in Phillips 66 (NYSE:PSX) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bogart Wealth LLC boosted its stake in Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 120 shares during the period. J.Safra Asset Management Corp purchased a new stake in shares of Phillips 66 in the fourth quarter valued at $25,000. Stephens Consulting LLC lifted its holdings in shares of Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares in the last quarter. Graney & King LLC acquired a new stake in shares of Phillips 66 in the fourth quarter worth $28,000. Finally, Human Investing LLC purchased a new position in shares of Phillips 66 during the fourth quarter valued at $30,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. 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. Mizuho lowered their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, 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 note on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $146.43.

Phillips 66 Price Performance

NYSE PSX opened at $123.72 on Tuesday. The firm has a market cap of $50.44 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The stock’s 50-day moving average is $124.82 and its two-hundred day moving average is $125.50. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week 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.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 period in the prior year, the company earned $3.09 earnings per share. On average, analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal 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 issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio is currently 93.12%.

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.