CIBC Asset Management Inc Has $8.28 Million Stock Holdings in Phillips 66 (NYSE:PSX)

CIBC Asset Management Inc lifted its position in Phillips 66 (NYSE:PSX) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,684 shares of the oil and gas company’s stock after buying an additional 851 shares during the quarter. CIBC Asset Management Inc’s holdings in Phillips 66 were worth $8,281,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 5T Wealth LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $644,000. Human Investing LLC bought a new position in Phillips 66 during the fourth quarter worth $30,000. Strategic Advisors LLC increased its holdings in shares of Phillips 66 by 2.8% in the fourth quarter. Strategic Advisors LLC now owns 8,072 shares of the oil and gas company’s stock valued at $920,000 after purchasing an additional 223 shares during the last quarter. Valmark Advisers Inc. raised its position in shares of Phillips 66 by 1.5% in the fourth quarter. Valmark Advisers Inc. now owns 6,722 shares of the oil and gas company’s stock valued at $766,000 after purchasing an additional 101 shares during the period. Finally, Csenge Advisory Group lifted its stake in shares of Phillips 66 by 20.9% during the 4th quarter. Csenge Advisory Group now owns 10,820 shares of the oil and gas company’s stock worth $1,233,000 after buying an additional 1,874 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $130.12 on Thursday. The company’s 50-day moving average price is $118.90 and its two-hundred day moving average price is $127.10. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a market cap of $53.74 billion, a P/E ratio of 26.34, a P/E/G ratio of 4.71 and a beta of 1.37.

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 company earned $3.09 EPS. On average, analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. Phillips 66’s dividend payout ratio is currently 93.12%.

Analysts Set New Price Targets

Several research firms have weighed in on PSX. Barclays lowered their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Mizuho lowered their price objective 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. Finally, StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Company 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.