Cibc World Market Inc. Raises Stake in Phillips 66 $PSX

Cibc World Market Inc. boosted its position in shares of Phillips 66 (NYSE:PSX) by 119.3% in the 4th quarter, HoldingsChannel reports. The fund owned 265,842 shares of the oil and gas company’s stock after acquiring an additional 144,638 shares during the period. Cibc World Market Inc.’s holdings in Phillips 66 were worth $34,304,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PSX. Vanguard Group Inc. lifted its position in shares of Phillips 66 by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after purchasing an additional 205,480 shares during the last quarter. Geode Capital Management LLC raised its stake in Phillips 66 by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock valued at $1,338,596,000 after buying an additional 45,340 shares in the last quarter. Norges Bank acquired a new stake in Phillips 66 in the fourth quarter valued at $640,206,000. M&T Bank Corp lifted its holdings in Phillips 66 by 462.9% during the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock worth $352,007,000 after buying an additional 2,243,268 shares during the last quarter. Finally, Amundi lifted its holdings in Phillips 66 by 2.8% during the 3rd quarter. Amundi now owns 2,400,180 shares of the oil and gas company’s stock worth $319,123,000 after buying an additional 65,568 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 0.3%

Shares of NYSE PSX opened at $184.14 on Friday. The business has a 50-day moving average price of $172.71 and a 200 day moving average price of $155.98. The stock has a market cap of $73.83 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 0.27 and a beta of 0.68. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a 52-week low of $111.37 and a 52-week high of $190.61.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the previous year, the company posted ($0.90) earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were given a $1.27 dividend. The ex-dividend date was Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.8%. Phillips 66’s dividend payout ratio is 50.05%.

Insider Buying and Selling at Phillips 66

In related news, Director Lisa Ann Davis sold 3,800 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the completion of the sale, the director owned 8,701 shares in the company, valued at $1,517,193.37. This represents a 30.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian Mandell sold 42,800 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the transaction, the executive vice president directly owned 61,595 shares in the company, valued at approximately $10,442,200.35. This represents a 41.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 92,229 shares of company stock worth $15,990,030 in the last 90 days. Company insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PSX. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Wall Street Zen cut Phillips 66 from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Raymond James Financial upped their price target on Phillips 66 from $205.00 to $215.00 in a report on Thursday, April 30th. BMO Capital Markets raised their price objective on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $191.28.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.