Cyndeo Wealth Partners LLC Raises Stock Position in Phillips 66 (NYSE:PSX)

Cyndeo Wealth Partners LLC raised its stake in Phillips 66 (NYSE:PSX) by 16.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 24,791 shares of the oil and gas company’s stock after buying 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 reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC increased its stake in shares of 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 purchasing an additional 2,467,316 shares in the last quarter. ING Groep NV boosted its holdings in shares of Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after purchasing an additional 653,032 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Phillips 66 by 63.4% in the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after purchasing an additional 633,970 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of Phillips 66 in the 3rd quarter valued at $70,983,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Phillips 66 by 73.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock valued at $96,294,000 after purchasing an additional 309,507 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 0.6 %

Shares of NYSE:PSX opened at $121.82 on Friday. The company has a 50 day moving average of $121.63 and a 200-day moving average of $129.10. The firm has a market cap of $50.31 billion, a P/E ratio of 15.64, a P/E/G ratio of 3.78 and a beta of 1.38. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Mizuho reduced their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. Finally, Barclays lowered their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

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.