CIBC Private Wealth Group LLC lifted its stake in Phillips 66 (NYSE:PSX) by 13.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,745 shares of the oil and gas company’s stock after buying an additional 6,865 shares during the period. CIBC Private Wealth Group LLC’s holdings in Phillips 66 were worth $5,496,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PSX. Winslow Evans & Crocker Inc. boosted its stake in Phillips 66 by 2.5% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 4,186 shares of the oil and gas company’s stock worth $400,000 after purchasing an additional 104 shares during the period. Torray LLC boosted its stake in Phillips 66 by 0.6% during the 4th quarter. Torray LLC now owns 16,962 shares of the oil and gas company’s stock worth $1,461,000 after purchasing an additional 106 shares during the period. First Foundation Advisors boosted its stake in Phillips 66 by 2.1% during the 4th quarter. First Foundation Advisors now owns 5,357 shares of the oil and gas company’s stock worth $462,000 after purchasing an additional 112 shares during the period. Deane Retirement Strategies Inc. boosted its stake in Phillips 66 by 0.6% during the 1st quarter. Deane Retirement Strategies Inc. now owns 18,423 shares of the oil and gas company’s stock worth $1,754,000 after purchasing an additional 112 shares during the period. Finally, Impax Asset Management Group plc boosted its stake in Phillips 66 by 2.0% during the 4th quarter. Impax Asset Management Group plc now owns 6,030 shares of the oil and gas company’s stock worth $519,000 after purchasing an additional 116 shares during the period. 70.08% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director John E. Lowe bought 2,000 shares of Phillips 66 stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $82.91 per share, for a total transaction of $165,820.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.13% of the stock is currently owned by company insiders.

A number of brokerages recently weighed in on PSX. Jefferies Financial Group cut shares of Phillips 66 from a “buy” rating to a “hold” rating and increased their price target for the stock from $105.00 to $107.00 in a research note on Monday, April 15th. Citigroup increased their price target on shares of Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. ValuEngine cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Argus decreased their price target on shares of Phillips 66 to $116.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Finally, Bank of America upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 target price for the company in a research note on Monday, April 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $119.42.

PSX stock opened at $82.20 on Tuesday. Phillips 66 has a one year low of $78.44 and a one year high of $123.97. The firm has a market capitalization of $36.65 billion, a PE ratio of 7.23, a PEG ratio of 1.30 and a beta of 0.99. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.06. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. The company had revenue of $23.66 billion during the quarter, compared to analysts’ expectations of $24.66 billion. During the same quarter last year, the business earned $1.04 EPS. As a group, research analysts expect that Phillips 66 will post 7.33 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $0.80. Phillips 66’s dividend payout ratio (DPR) is 30.74%.

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Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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