CIBC Asset Management Inc Has $2.78 Million Position in Phillips 66 (NYSE:PSX)

CIBC Asset Management Inc boosted its stake in shares of Phillips 66 (NYSE:PSX) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,734 shares of the oil and gas company’s stock after buying an additional 1,254 shares during the quarter. CIBC Asset Management Inc’s holdings in Phillips 66 were worth $2,783,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PSX. PrairieView Partners LLC increased its stake in shares of Phillips 66 by 40.5% during the third quarter. PrairieView Partners LLC now owns 458 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 132 shares in the last quarter. Clarius Group LLC increased its position in shares of Phillips 66 by 2.4% during the third quarter. Clarius Group LLC now owns 5,644 shares of the oil and gas company’s stock valued at $395,000 after acquiring an additional 133 shares in the last quarter. Financial Counselors Inc. increased its position in shares of Phillips 66 by 0.7% during the third quarter. Financial Counselors Inc. now owns 18,887 shares of the oil and gas company’s stock valued at $1,323,000 after acquiring an additional 133 shares in the last quarter. Stolper Co increased its position in shares of Phillips 66 by 0.3% during the third quarter. Stolper Co now owns 40,712 shares of the oil and gas company’s stock valued at $2,851,000 after acquiring an additional 136 shares in the last quarter. Finally, Boyd Watterson Asset Management LLC OH increased its position in shares of Phillips 66 by 1.1% during the third quarter. Boyd Watterson Asset Management LLC OH now owns 12,556 shares of the oil and gas company’s stock valued at $879,000 after acquiring an additional 141 shares in the last quarter. 68.17% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Phillips 66 from a “buy” rating to a “conviction-buy” rating in a research report on Wednesday, November 3rd. Mizuho reissued a “buy” rating and set a $100.00 price target on shares of Phillips 66 in a research report on Friday, November 19th. Zacks Investment Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating and set a $76.00 price target for the company. in a research report on Monday, December 20th. JPMorgan Chase & Co. raised shares of Phillips 66 from a “neutral” rating to an “overweight” rating and raised their price target for the company from $83.00 to $93.00 in a research report on Wednesday, December 8th. Finally, Royal Bank of Canada lifted their target price on shares of Phillips 66 from $94.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 2nd. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Buy” and an average target price of $89.80.

Shares of Phillips 66 stock opened at $88.58 on Friday. The company’s fifty day simple moving average is $74.76 and its 200-day simple moving average is $74.80. The stock has a market capitalization of $38.81 billion, a PE ratio of -77.03, a P/E/G ratio of 0.62 and a beta of 1.66. Phillips 66 has a 1-year low of $63.19 and a 1-year high of $94.34. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.15 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last released its earnings results on Thursday, October 28th. The oil and gas company reported $3.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $1.23. The company had revenue of $31.47 billion for the quarter, compared to analysts’ expectations of $24.33 billion. Phillips 66 had a negative net margin of 0.50% and a positive return on equity of 3.44%. During the same quarter in the previous year, the company earned ($0.01) EPS. As a group, research analysts anticipate that Phillips 66 will post 4.69 EPS for the current year.

In related news, VP Joseph Scott Pruitt sold 2,250 shares of the company’s stock in a transaction dated Thursday, December 23rd. The shares were sold at an average price of $72.62, for a total transaction of $163,395.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.74% of the company’s stock.

About Phillips 66

Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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