Pinnacle Wealth Planning Services Inc. Sells 613 Shares of Phillips 66 (NYSE:PSX)

Pinnacle Wealth Planning Services Inc. reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,157 shares of the oil and gas company’s stock after selling 613 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Phillips 66 were worth $588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSX. Price T Rowe Associates Inc. MD lifted its holdings in shares of Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock valued at $686,618,000 after purchasing an additional 4,455,220 shares in the last quarter. Norges Bank bought a new position in Phillips 66 in the fourth quarter valued at about $497,648,000. Raymond James Financial Inc. bought a new position in Phillips 66 in the fourth quarter valued at about $168,790,000. Capitolis Liquid Global Markets LLC bought a new position in Phillips 66 in the fourth quarter valued at about $142,185,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Phillips 66 by 157.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company’s stock valued at $175,593,000 after acquiring an additional 942,922 shares during the period. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Performance

NYSE:PSX opened at $113.13 on Tuesday. 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 12-month low of $91.01 and a 12-month high of $150.12. The stock has a 50-day moving average price of $110.28 and a 200 day moving average price of $118.86. The stock has a market capitalization of $46.09 billion, a P/E ratio of 22.90, a P/E/G ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The business had revenue of $31.92 billion for the quarter, compared to analysts’ expectations of $31.93 billion. During the same quarter in the prior year, the business posted $1.90 EPS. Equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 4.24%. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio (DPR) is currently 109.34%.

Analyst Ratings Changes

A number of research analysts have weighed in on PSX shares. Tudor Pickering downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Mizuho increased their target price on Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a report on Thursday, March 27th. TD Cowen increased their target price on Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Finally, Raymond James reduced their price target on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.86.

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.