Pinnacle Wealth Management Advisory Group LLC Purchases 89 Shares of Phillips 66 (NYSE:PSX)

Pinnacle Wealth Management Advisory Group LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,186 shares of the oil and gas company’s stock after acquiring an additional 89 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Phillips 66 were worth $557,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Cornerstone Planning Group LLC grew its position in Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares during the last quarter. Signature Resources Capital Management LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $33,000. Bruce G. Allen Investments LLC purchased a new position in Phillips 66 in the 4th quarter worth $36,000. Bell Investment Advisors Inc increased its holdings in shares of Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 138 shares during the period. Finally, West Branch Capital LLC lifted its holdings in shares of Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on PSX. Bank of America upped their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Citigroup began coverage on Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating for the company. Raymond James raised their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Scotiabank boosted their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Insider Activity

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock valued at $5,272,681 over the last 90 days. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock traded up $1.73 during mid-day trading on Wednesday, hitting $146.94. 2,915,394 shares of the stock were exchanged, compared to its average volume of 2,940,190. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The stock has a market capitalization of $62.30 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 1.82 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The stock’s fifty day simple moving average is $155.48 and its two-hundred day simple moving average is $138.78.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The company had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same quarter last year, the company posted $4.21 EPS. On average, analysts forecast that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a dividend of $1.15 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is currently 32.31%.

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.