Cyndeo Wealth Partners LLC Increases Stock Position in Phillips 66 $PSX

Cyndeo Wealth Partners LLC lifted its holdings in Phillips 66 (NYSE:PSX) by 3.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 42,167 shares of the oil and gas company’s stock after purchasing an additional 1,520 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Phillips 66 were worth $5,031,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PSX. Brighton Jones LLC lifted its position in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares during the period. Portside Wealth Group LLC raised its stake in shares of Phillips 66 by 7.5% during the 1st quarter. Portside Wealth Group LLC now owns 1,910 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 133 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Phillips 66 by 65.6% during the 1st quarter. Farther Finance Advisors LLC now owns 13,558 shares of the oil and gas company’s stock worth $1,686,000 after acquiring an additional 5,372 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in shares of Phillips 66 by 63.2% during the 1st quarter. Pallas Capital Advisors LLC now owns 3,666 shares of the oil and gas company’s stock worth $453,000 after acquiring an additional 1,419 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Phillips 66 by 15.2% during the 1st quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company’s stock worth $1,190,000 after acquiring an additional 1,268 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of several recent analyst reports. Bank of America lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Jefferies Financial Group boosted their price objective on shares of Phillips 66 from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, September 15th. Barclays boosted their price objective on shares of Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Finally, Compass Point initiated coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $140.50.

Insider Buying and Selling at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the sale, the executive vice president owned 34,587 shares in the company, valued at $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sigmund L. Cornelius acquired 500 shares of the business’s stock in a transaction dated Thursday, July 31st. The stock was acquired at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the purchase, the director directly owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 9,850 shares of company stock worth $1,188,910 over the last ninety days. 0.22% of the stock is owned by insiders.

Phillips 66 Trading Down 0.2%

Shares of Phillips 66 stock opened at $131.10 on Friday. The firm has a market capitalization of $52.98 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 1.91 and a beta of 1.11. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The firm’s 50 day simple moving average is $129.36 and its two-hundred day simple moving average is $120.62. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter in the prior year, the business earned $2.31 earnings per share. Analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. Phillips 66’s dividend payout ratio is presently 115.38%.

Phillips 66 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.