Phillips 66 $PSX Shares Sold by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. lessened its holdings in Phillips 66 (NYSE:PSX) by 9.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,729 shares of the oil and gas company’s stock after selling 472 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Phillips 66 were worth $564,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PSX. Elliott Investment Management L.P. raised its position in Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after purchasing an additional 14,950,000 shares during the period. Geode Capital Management LLC grew its stake in shares of Phillips 66 by 17.4% in the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock valued at $1,226,815,000 after buying an additional 1,532,967 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Phillips 66 by 6.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock valued at $1,120,794,000 after buying an additional 537,245 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock valued at $828,442,000 after buying an additional 682,459 shares during the period. Finally, Invesco Ltd. lifted its position in Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after acquiring an additional 653,248 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on PSX. Wall Street Zen upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Argus raised shares of Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Raymond James Financial reiterated an “outperform” rating and issued a $150.00 price objective (up previously from $145.00) on shares of Phillips 66 in a report on Friday, October 17th. Barclays upped their price objective on shares of Phillips 66 from $132.00 to $141.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, BMO Capital Markets lifted their target price on Phillips 66 from $152.00 to $160.00 in a research report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $145.71.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the transaction, the chief financial officer owned 89,771 shares of the company’s stock, valued at $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. The trade was a 11.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 38,786 shares of company stock worth $5,348,075 over the last 90 days. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Performance

Shares of PSX stock opened at $138.43 on Wednesday. The stock has a market capitalization of $55.78 billion, a price-to-earnings ratio of 37.82, a PEG ratio of 1.81 and a beta of 1.08. Phillips 66 has a one year low of $91.01 and a one year high of $143.25. The company’s 50-day simple moving average is $134.22 and its 200-day simple moving average is $126.65. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The firm had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same quarter in the prior year, the firm posted $2.04 earnings per share. Equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio is currently 131.15%.

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.