Phillips 66 (NYSE:PSX) Shares Purchased by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 64.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,647 shares of the oil and gas company’s stock after purchasing an additional 15,856 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Phillips 66 were worth $5,019,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its stake in shares of Phillips 66 by 10.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after acquiring an additional 4,515 shares during the period. Corps Capital Advisors LLC acquired a new stake in shares of Phillips 66 in the 4th quarter worth approximately $412,000. Cohen & Steers Inc. lifted its stake in shares of Phillips 66 by 40.3% in the 4th quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company’s stock worth $10,443,000 after acquiring an additional 26,318 shares during the period. American Assets Investment Management LLC lifted its stake in shares of Phillips 66 by 2.3% in the 4th quarter. American Assets Investment Management LLC now owns 130,800 shares of the oil and gas company’s stock worth $14,902,000 after acquiring an additional 3,000 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of Phillips 66 by 71.3% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 21,231 shares of the oil and gas company’s stock worth $2,419,000 after acquiring an additional 8,838 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

PSX opened at $122.20 on Monday. The stock has a fifty day moving average of $109.84 and a 200-day moving average of $117.35. The firm has a market capitalization of $49.79 billion, a P/E ratio of 24.74, a PEG ratio of 4.84 and a beta of 1.02. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the previous year, the company earned $1.90 EPS. Equities analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $1.20 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.93%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio is presently 109.34%.

Insider Activity

In other news, Director Robert W. Pease acquired 439 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Scotiabank reduced their price target on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Barclays increased their target price on shares of Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Mizuho increased their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. Finally, UBS Group cut their target price on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.46.

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.