Pinnacle Wealth Planning Services Inc. Cuts Position in Phillips 66 (NYSE:PSX)

Pinnacle Wealth Planning Services Inc. lessened its position in shares of Phillips 66 (NYSE:PSX) by 10.6% in the 4th quarter, according to its most recent 13F filing 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 SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. grew its holdings in Phillips 66 by 10.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after buying an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. purchased a new position in Phillips 66 during the 4th quarter valued at approximately $1,190,000. Smith Group Asset Management LLC purchased a new position in Phillips 66 during the 4th quarter valued at approximately $1,149,000. Corps Capital Advisors LLC purchased a new position in Phillips 66 during the 4th quarter valued at approximately $412,000. Finally, Cohen & Steers Inc. grew its holdings in Phillips 66 by 40.3% during the 4th quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company’s stock valued at $10,443,000 after buying an additional 26,318 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX stock opened at $113.13 on Tuesday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm 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. The stock has a 50 day moving average price of $110.28 and a 200 day moving average price of $118.86.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $31.93 billion. During the same period in the prior year, the business posted $1.90 earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, May 19th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 4.24%. Phillips 66’s payout ratio is 109.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PSX shares. JPMorgan Chase & Co. dropped their target price on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Tuesday, April 29th. Mizuho lifted their target price on Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Tudor Pickering cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Wells Fargo & Company dropped their target price on Phillips 66 from $162.00 to $149.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Finally, The Goldman Sachs Group cut Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a report on Thursday, March 27th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.86.

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.