Cyndeo Wealth Partners LLC Has $5.02 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Cyndeo Wealth Partners LLC raised its holdings in Phillips 66 (NYSE:PSX - Free Report) by 64.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,647 shares of the oil and gas company's stock after buying an additional 15,856 shares during the period. Cyndeo Wealth Partners LLC's holdings in Phillips 66 were worth $5,019,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bogart Wealth LLC grew its position 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 worth $25,000 after acquiring an additional 120 shares during the last quarter. J.Safra Asset Management Corp purchased a new position in Phillips 66 during the 4th quarter worth $25,000. Pacific Center for Financial Services purchased a new stake in shares of Phillips 66 in the fourth quarter valued at about $27,000. Graney & King LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth about $28,000. Finally, Wood Tarver Financial Group LLC purchased a new position in shares of Phillips 66 during the fourth quarter worth about $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert W. Pease purchased 439 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $113.85 per share, with a total value of $49,980.15. Following the purchase, the director now owns 4,091 shares in the company, valued at $465,760.35. This trade represents a 12.02% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.22% of the company's stock.

Phillips 66 Stock Up 0.8%

PSX traded up $1.03 during trading hours on Tuesday, reaching $124.65. 5,513,754 shares of the stock traded hands, compared to its average volume of 3,053,249. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The company has a market cap of $50.79 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 1.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88. The firm's fifty day simple moving average is $110.46 and its two-hundred day simple moving average is $117.28.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data 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 company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same quarter in the prior year, the firm earned $1.90 EPS. As a group, analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders 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 represents a $4.80 annualized dividend and a yield of 3.85%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's payout ratio is presently 109.34%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PSX. UBS Group lowered their target price on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Wall Street Zen raised Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Wells Fargo & Company reduced their target price on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Tudor Pickering lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Raymond James Financial decreased their price target on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of "Moderate Buy" and a consensus price target of $135.46.

About Phillips 66

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.