CIBC Bancorp USA Inc. Acquires New Stake in Phillips 66 $PSX

CIBC Bancorp USA Inc. purchased a new stake in Phillips 66 (NYSE:PSX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 55,874 shares of the oil and gas company’s stock, valued at approximately $7,600,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Phillips 66 by 11.6% during the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock worth $7,035,574,000 after buying an additional 5,356,558 shares during the period. Elliott Investment Management L.P. lifted its stake in Phillips 66 by 22.4% in the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after acquiring an additional 3,526,000 shares in the last quarter. Norges Bank bought a new stake in Phillips 66 in the 2nd quarter valued at approximately $523,755,000. Charles Schwab Investment Management Inc. boosted its position in Phillips 66 by 5.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,268,830 shares of the oil and gas company’s stock worth $389,971,000 after acquiring an additional 165,514 shares during the last quarter. Finally, Amundi boosted its position 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 acquiring an additional 65,568 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 42,800 shares of Phillips 66 stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total value of $7,255,884.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares of the company’s stock, valued at approximately $10,442,200.35. The trade was a 41.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 16,856 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at $16,380,590.72. This represents a 14.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 84,688 shares of company stock worth $14,066,145 over the last ninety days. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Citigroup increased their target price on shares of Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Argus lifted their price target on shares of Phillips 66 from $152.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. TD Cowen reissued a “buy” rating on shares of Phillips 66 in a research report on Friday, February 6th. Finally, Morgan Stanley increased their price objective on shares of Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.33.

Trending Headlines about Phillips 66

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Refining‑margin tailwinds and company messaging on cash returns drove buying interest; market commentary points to wider gasoline/diesel crack spreads and Phillips 66’s investor materials emphasizing durable cash generation and cost reductions. Phillips 66 rises on refining-margin tailwinds
• Positive Sentiment: Macro supply risk — overseas oil prices jumped after attacks in the Gulf region — which typically boosts refiners’ ability to raise product prices and supports crack spreads. That broader commodity move helped lift PSX with the sector. Oil Prices Surge Overseas, Gold Slumps
• Positive Sentiment: Analyst interest and earnings‑estimate revisions are supportive — coverage notes PSX among broker‑favored names amid inflation and oil shocks, and recent upgrades/positive forecasts (e.g., Jefferies, Mizuho) add conviction. Higher trading volume accompanied recent gains. Phillips 66 (PSX) Surges 3.2%
• Neutral Sentiment: Liquidity update — PSX arranged a 364‑day $2.25B term loan, which boosts near‑term funding flexibility but adds short‑term debt; likely neutral for near‑term sentiment unless used for buybacks/dividends. Phillips 66 Secures New $2.25 Billion Term Loan
• Neutral Sentiment: Media and momentum mentions (CNBC/Benzinga) flagged PSX among notable trades, which can amplify short‑term flows but doesn’t change fundamentals. Okta, Phillips 66 And More: CNBC’s ‘Final Trades’
• Neutral Sentiment: Mixed institutional/analyst picture — Quiver/market data show substantial portfolio reshuffling and a wide range of price targets (median around $151), signaling divergent views that can increase volatility. Quiver Quantitative PSX analysis
• Negative Sentiment: Significant insider selling was reported (EVP sale ~ $7.26M), which can concern investors about timing of sales even though insider activity is not uncommon. That likely capped some upside after the rally. Insider Selling: Phillips 66 EVP Sells $7,255,884.00 in Stock

Phillips 66 Stock Down 1.6%

Shares of NYSE:PSX opened at $175.49 on Friday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $179.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. The business’s 50-day moving average is $154.88 and its 200-day moving average is $141.51. The company has a market capitalization of $70.32 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 0.62 and a beta of 0.86.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.15 by $0.32. The business had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same quarter last year, the firm posted ($0.15) earnings per share. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, February 23rd. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio is presently 46.95%.

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.