CIBC Private Wealth Group LLC grew its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 13.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,244 shares of the oil and gas company's stock after acquiring an additional 15,385 shares during the period. 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 modified their holdings of the stock. RWA Wealth Partners LLC grew its stake in Phillips 66 by 4.1% in the fourth quarter. RWA Wealth Partners LLC now owns 6,709 shares of the oil and gas company's stock worth $764,000 after purchasing an additional 263 shares in the last quarter. MV Capital Management Inc. lifted its holdings in Phillips 66 by 23.4% during the 4th quarter. MV Capital Management Inc. now owns 956 shares of the oil and gas company's stock worth $109,000 after buying an additional 181 shares during the last quarter. Allstate Corp acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $1,416,000. DnB Asset Management AS increased its holdings in shares of Phillips 66 by 26.0% in the 4th quarter. DnB Asset Management AS now owns 2,222 shares of the oil and gas company's stock valued at $253,000 after acquiring an additional 458 shares during the last quarter. Finally, Level Four Advisory Services LLC raised its position in shares of Phillips 66 by 2.3% during the 4th quarter. Level Four Advisory Services LLC now owns 37,458 shares of the oil and gas company's stock valued at $4,268,000 after acquiring an additional 827 shares in the last quarter. Institutional investors own 76.93% of the company's stock.
Analyst Ratings Changes
Several analysts have weighed in on PSX shares. StockNews.com lowered shares of Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday, March 2nd. Wolfe Research upgraded shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group lowered Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a report on Thursday, March 27th. Wells Fargo & Company raised their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Mizuho dropped their target price on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average target price of $146.43.
View Our Latest Research Report on Phillips 66
Phillips 66 Price Performance
NYSE:PSX traded down $16.91 during midday trading on Thursday, hitting $107.15. 6,783,576 shares of the stock were exchanged, compared to its average volume of 2,794,287. The company has a market capitalization of $43.69 billion, a price-to-earnings ratio of 21.69, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a one year low of $106.73 and a one year high of $174.08. The business has a 50-day moving average price of $125.02 and a two-hundred day moving average price of $125.48.
Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results 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 return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the prior year, the firm earned $3.09 earnings per share. Sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current year.
Phillips 66 Dividend Announcement
The business 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. This represents a $4.60 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66's dividend payout ratio is presently 93.12%.
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.
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