Cynosure Group LLC Makes New $201,000 Investment in Phillips 66 (NYSE:PSX)

Cynosure Group LLC purchased a new stake in Phillips 66 (NYSE:PSX) during the 3rd quarter, HoldingsChannel reports. The firm purchased 1,529 shares of the oil and gas company’s stock, valued at approximately $201,000.

Other institutional investors have also made changes to their positions in the company. Mitchell & Pahl Private Wealth LLC grew its holdings in Phillips 66 by 0.4% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after buying an additional 74 shares during the last quarter. Catalyst Financial Partners LLC increased its position in Phillips 66 by 5.1% during the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after acquiring an additional 74 shares during the period. Advisory Alpha LLC raised its stake in Phillips 66 by 4.8% during the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after purchasing an additional 76 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Phillips 66 by 1.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock valued at $616,000 after purchasing an additional 77 shares during the period. Finally, Krane Funds Advisors LLC grew its position in Phillips 66 by 3.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 82 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PSX shares. 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 research report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Morgan Stanley cut their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Bank of America assumed coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Finally, Mizuho lowered their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Trading Up 0.5 %

Shares of PSX opened at $134.02 on Friday. The firm has a market capitalization of $55.35 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 4.35 and a beta of 1.33. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $119.77 and a 12-month high of $174.08. The stock’s fifty day simple moving average is $130.68 and its 200-day simple moving average is $134.99.

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, topping analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analyst estimates 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 previous year, the business earned $4.63 EPS. As a group, research analysts predict that Phillips 66 will post 7.66 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

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.