Pinnacle Wealth Management LLC purchased a new position in Phillips 66 (NYSE:PSX – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 16,448 shares of the oil and gas company’s stock, valued at approximately $1,569,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Country Trust Bank raised its holdings in Phillips 66 by 1,315.8% in the 2nd quarter. Country Trust Bank now owns 269 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 250 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its stake in shares of Phillips 66 by 504.0% in the first quarter. Oliver Lagore Vanvalin Investment Group now owns 302 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 252 shares in the last quarter. Fiduciary Alliance LLC bought a new position in Phillips 66 in the second quarter worth $30,000. Worth Asset Management LLC acquired a new stake in Phillips 66 during the first quarter worth $32,000. Finally, Graves Light Lenhart Wealth Inc. bought a new stake in Phillips 66 in the 1st quarter valued at $47,000. Institutional investors own 71.83% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have commented on PSX. StockNews.com started coverage on shares of Phillips 66 in a research note on Thursday, October 5th. They set a “hold” rating for the company. Bank of America upped their price objective on shares of Phillips 66 from $141.00 to $143.00 and gave the stock a “neutral” rating in a research note on Monday, September 18th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $146.00 target price for the company in a research note on Tuesday, October 31st. The Goldman Sachs Group boosted their price objective on Phillips 66 from $125.00 to $141.00 and gave the stock a “buy” rating in a research note on Friday, September 1st. Finally, Wells Fargo & Company raised their target price on Phillips 66 from $130.00 to $144.00 and gave the company an “overweight” rating in a research note on Friday, September 8th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $132.50.
Phillips 66 Trading Up 2.5 %
Shares of PSX stock traded up $2.84 on Friday, reaching $116.37. The company had a trading volume of 3,354,387 shares, compared to its average volume of 2,873,967. The stock has a market cap of $51.20 billion, a PE ratio of 7.02, a PEG ratio of 0.39 and a beta of 1.34. The company has a 50-day moving average of $115.72 and a 200-day moving average of $107.20. The company has a current ratio of 1.29, a quick ratio of 0.96 and a debt-to-equity ratio of 0.58. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $125.19.
Phillips 66 (NYSE:PSX – Get Free Report) last issued its earnings results on Friday, October 27th. The oil and gas company reported $4.63 EPS for the quarter, missing the consensus estimate of $4.78 by ($0.15). Phillips 66 had a net margin of 5.05% and a return on equity of 23.32%. During the same quarter in the prior year, the company posted $6.46 earnings per share. On average, equities analysts forecast that Phillips 66 will post 15.45 earnings per share for the current year.
Phillips 66 Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be issued a dividend of $1.05 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.20 annualized dividend and a yield of 3.61%. Phillips 66’s dividend payout ratio is presently 25.33%.
Insider Buying and Selling at Phillips 66
In other news, EVP Timothy D. Roberts sold 12,970 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $124.41, for a total transaction of $1,613,597.70. Following the sale, the executive vice president now owns 80,009 shares of the company’s stock, valued at $9,953,919.69. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Timothy D. Roberts sold 12,970 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $124.41, for a total value of $1,613,597.70. Following the sale, the executive vice president now directly owns 80,009 shares of the company’s stock, valued at approximately $9,953,919.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin J. Mitchell sold 30,800 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $120.97, for a total value of $3,725,876.00. Following the transaction, the chief financial officer now owns 103,803 shares of the company’s stock, valued at approximately $12,557,048.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,770 shares of company stock valued at $6,158,614. Company insiders own 4.57% of the company’s stock.
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.
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