Cyndeo Wealth Partners LLC Grows Stake in Phillips 66 (NYSE:PSX)

Cyndeo Wealth Partners LLC grew its stake in Phillips 66 (NYSE:PSX) by 16.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,791 shares of the oil and gas company’s stock after acquiring an additional 3,533 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Phillips 66 were worth $2,824,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Van ECK Associates Corp boosted its position in shares of Phillips 66 by 263.3% in the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of Phillips 66 in the 4th quarter valued at about $3,033,000. Mizuho Securities USA LLC increased its stake in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares in the last quarter. Annex Advisory Services LLC increased its stake in Phillips 66 by 25.7% during the 4th quarter. Annex Advisory Services LLC now owns 162,922 shares of the oil and gas company’s stock worth $18,562,000 after buying an additional 33,290 shares in the last quarter. Finally, Nwam LLC purchased a new stake in Phillips 66 during the 3rd quarter worth approximately $498,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

NYSE PSX opened at $121.82 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The company has a market capitalization of $50.31 billion, a PE ratio of 15.64, a P/E/G ratio of 3.78 and a beta of 1.38. The company has a fifty day moving average of $121.63 and a two-hundred day moving average of $129.10.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.63 earnings per share. As a group, analysts expect that Phillips 66 will post 6.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Mizuho lowered their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Barclays decreased their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Bank of America assumed coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. Finally, Scotiabank cut their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.93.

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.