Pinnacle Associates Ltd. Has $4.55 Million Stock Holdings in Phillips 66 $PSX

Pinnacle Associates Ltd. increased its position in Phillips 66 (NYSE:PSX) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,279 shares of the oil and gas company’s stock after buying an additional 2,912 shares during the period. Pinnacle Associates Ltd.’s holdings in Phillips 66 were worth $4,552,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PSX. Board of the Pension Protection Fund acquired a new position in Phillips 66 during the 4th quarter valued at about $26,000. Accordant Advisory Group Inc boosted its stake in Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Phillips 66 during the 4th quarter valued at about $27,000. Stephens Consulting LLC boosted its stake in Phillips 66 by 67.7% during the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 90 shares during the last quarter. Finally, Dorato Capital Management acquired a new position in Phillips 66 during the 4th quarter valued at about $35,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Phillips 66

In other news, EVP Brian Mandell sold 42,800 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the transaction, the executive vice president owned 61,595 shares in the company, valued at $10,442,200.35. The trade was a 41.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Don Baldridge sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the transaction, the executive vice president owned 38,488 shares in the company, valued at $6,158,080. The trade was a 16.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 121,529 shares of company stock worth $20,841,455. 0.40% of the stock is owned by insiders.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $176.42 on Friday. Phillips 66 has a twelve month low of $109.75 and a twelve month high of $190.61. The stock’s 50 day moving average price is $170.79 and its 200-day moving average price is $151.81. The company has a market capitalization of $70.73 billion, a PE ratio of 17.38, a PEG ratio of 0.26 and a beta of 0.70. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter in the previous year, the business earned ($0.90) EPS. The company’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that Phillips 66 will post 17.39 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, May 18th. Phillips 66’s payout ratio is presently 50.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PSX shares. BMO Capital Markets lifted their price target on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company increased their target price on shares of Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Jefferies Financial Group downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Raymond James Financial boosted their price target on shares of Phillips 66 from $205.00 to $215.00 in a report on Thursday, April 30th. Finally, Mizuho upped their price objective on shares of Phillips 66 from $152.00 to $170.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $186.28.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.