Cyndeo Wealth Partners LLC Buys 15,856 Shares of Phillips 66 (NYSE:PSX)

Cyndeo Wealth Partners LLC increased its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 64.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,647 shares of the oil and gas company's stock after acquiring an additional 15,856 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Phillips 66 were worth $5,019,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bogart Wealth LLC boosted its holdings in shares of Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 120 shares during the period. J.Safra Asset Management Corp bought a new stake in Phillips 66 in the 4th quarter valued at about $25,000. Pacific Center for Financial Services bought a new position in Phillips 66 in the 4th quarter worth about $27,000. Graney & King LLC bought a new position in Phillips 66 in the 4th quarter worth about $28,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Up 0.4%

NYSE:PSX traded up $0.44 on Thursday, hitting $124.98. 5,787,595 shares of the company's stock traded hands, compared to its average volume of 3,065,998. The company has a market cap of $50.92 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 1.91 and a beta of 1.02. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $111.33 and a 200-day moving average price of $117.38.

Phillips 66 (NYSE:PSX - Get Free Report) 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). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The company had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. During the same quarter in the previous year, the company earned $1.90 EPS. Equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, May 19th. This is an increase from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.84%. Phillips 66's dividend payout ratio (DPR) is 109.34%.

Analysts Set New Price Targets

Several analysts recently commented on PSX shares. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Scotiabank decreased their price target on 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. Raymond James Financial lowered their price target on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. TD Cowen upped their price objective on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, 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 report on Monday, May 12th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $133.93.

Insider Activity

In other Phillips 66 news, Director Robert W. Pease purchased 439 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the purchase, the director now directly owns 4,091 shares in the company, valued at $465,760.35. This trade represents a 12.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.22% of the stock is owned by corporate insiders.

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.