Phillips 66 (NYSE:PSX) Shares Bought by Cibc World Markets Corp

by · The Cerbat Gem

Cibc World Markets Corp lifted its stake in shares of Phillips 66 (NYSE:PSX – Free Report) by 14.5% in the fourth quarter, Holdings Channel reports. The firm owned 65,428 shares of the oil and gas company’s stock after buying an additional 8,271 shares during the period. Cibc World Markets Corp’s holdings in Phillips 66 were worth $7,454,000 at the end of the most recent reporting period.

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

Phillips 66 Stock Performance

Phillips 66 stock opened at $128.34 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $52.32 billion, a P/E ratio of 25.98, a PEG ratio of 4.84 and a beta of 1.31. The stock has a fifty day moving average price of $123.37 and a 200 day moving average price of $125.77. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX – Get Free Report) last announced its quarterly earnings data 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 quarter in the previous year, the firm earned $3.09 EPS. Equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 3.58%. Phillips 66’s dividend payout ratio is currently 93.12%.

Wall Street Analysts Forecast Growth

PSX has been the subject of several analyst reports. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. Wells Fargo & Company increased 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. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays lifted 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. Finally, StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $149.43.

Check Out Our Latest Stock Report on Phillips 66

Phillips 66 Profile

(Free Report)

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.

See Also

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