Phillips 66 (NYSE:PSX) Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC lessened its stake in shares of Phillips 66 (NYSE:PSX) by 14.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,816 shares of the oil and gas company’s stock after selling 645 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Phillips 66 were worth $435,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in Phillips 66 during the third quarter valued at about $26,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Phillips 66 by 1.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 44,382 shares of the oil and gas company’s stock valued at $5,834,000 after purchasing an additional 540 shares in the last quarter. Trust Point Inc. grew its stake in shares of Phillips 66 by 8.3% in the 3rd quarter. Trust Point Inc. now owns 1,976 shares of the oil and gas company’s stock worth $260,000 after purchasing an additional 152 shares during the last quarter. KMG Fiduciary Partners LLC raised its holdings in shares of Phillips 66 by 4.8% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 15,057 shares of the oil and gas company’s stock worth $1,979,000 after purchasing an additional 690 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC lifted its stake in Phillips 66 by 12.4% during the third quarter. Moss Adams Wealth Advisors LLC now owns 2,243 shares of the oil and gas company’s stock valued at $295,000 after purchasing an additional 247 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. UBS Group dropped their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Mizuho dropped their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Finally, Wells Fargo & Company upped their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Stock Up 2.1 %

PSX opened at $128.24 on Monday. The company has a market capitalization of $52.96 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The business has a 50-day moving average of $118.74 and a 200-day moving average of $127.32.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the firm earned $3.09 earnings per share. Equities research analysts forecast that Phillips 66 will post 7.14 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.59%. The ex-dividend date is Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

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.