Cynosure Group LLC Acquires New Holdings in Phillips 66 (NYSE:PSX)

Cynosure Group LLC bought a new stake in Phillips 66 (NYSE:PSX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,529 shares of the oil and gas company’s stock, valued at approximately $201,000.

Other large investors have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new position in shares of Phillips 66 during the third quarter valued at approximately $26,000. Bank & Trust Co acquired a new position in shares of Phillips 66 during the 2nd quarter valued at $31,000. Values First Advisors Inc. bought a new stake in shares of Phillips 66 in the 3rd quarter worth $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the second quarter valued at $34,000. Finally, Fortitude Family Office LLC boosted its stake in Phillips 66 by 52.3% during the second quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX opened at $134.02 on Friday. 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 has a 1 year low of $119.77 and a 1 year high of $174.08. The stock has a fifty day moving average price of $130.68 and a 200 day moving average price of $134.99. The stock has a market cap of $55.35 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 4.35 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. 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 previous year, the company earned $4.63 EPS. The firm’s revenue was down 10.3% on a year-over-year basis. Analysts forecast that Phillips 66 will post 7.66 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

Analysts Set New Price Targets

Several equities research analysts have commented on PSX shares. Morgan Stanley dropped their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Mizuho cut their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. JPMorgan Chase & Co. decreased their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Piper Sandler set a $144.00 price objective on Phillips 66 in a research report on Thursday, October 17th. Finally, Wells Fargo & Company decreased their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $149.69.

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.