Cibc World Markets Corp Has $7.45 Million Stake in Phillips 66 (NYSE:PSX)

Cibc World Markets Corp grew its holdings in shares of Phillips 66 (NYSE:PSX) by 14.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,428 shares of the oil and gas company’s stock after acquiring an additional 8,271 shares during the period. Cibc World Markets Corp’s holdings in Phillips 66 were worth $7,454,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bogart Wealth LLC raised its holdings in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after buying an additional 120 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in Phillips 66 during the 4th quarter valued at about $25,000. Stephens Consulting LLC increased its holdings in Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 111 shares in the last quarter. Human Investing LLC purchased a new stake in shares of Phillips 66 in the fourth quarter worth approximately $30,000. Finally, Webster Bank N. A. lifted its holdings in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 88 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

Shares of PSX opened at $128.34 on Wednesday. The company’s fifty day moving average price is $123.37 and its 200-day moving average price is $125.77. Phillips 66 has a 1-year low of $108.91 and a 1-year 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 firm has a market capitalization of $52.32 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) 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 quarter last year, the firm earned $3.09 EPS. On average, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders 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 3.58%. Phillips 66’s payout ratio is 93.12%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Mizuho cut their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. 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 research report on Friday, January 3rd. 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 upped their price objective on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Finally, Wells Fargo & Company raised their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $149.43.

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.