Pinkerton Wealth LLC Has $4.77 Million Stock Holdings in Phillips 66 $PSX

Pinkerton Wealth LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 8.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 39,980 shares of the oil and gas company’s stock after buying an additional 3,037 shares during the quarter. Pinkerton Wealth LLC’s holdings in Phillips 66 were worth $4,770,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PSX. Elliott Investment Management L.P. boosted its holdings in Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after acquiring an additional 14,950,000 shares during the last quarter. Chronos Wealth Management LLC bought a new stake in shares of Phillips 66 in the 2nd quarter valued at $281,000. Sustainable Insight Capital Management LLC acquired a new stake in shares of Phillips 66 during the first quarter worth $1,457,000. Evergreen Wealth Solutions LLC bought a new position in Phillips 66 during the first quarter worth $292,000. Finally, Vanguard Group Inc. lifted its holdings in Phillips 66 by 14.8% in the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after buying an additional 5,978,841 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of several research analyst reports. Evercore ISI lifted their price objective on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Wells Fargo & Company raised their price objective on shares of Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Raymond James Financial lifted their price objective on shares of Phillips 66 from $153.00 to $169.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Finally, Morgan Stanley lifted their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $146.82.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president owned 34,587 shares in the company, valued at $4,842,180. This represents a 11.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at $12,388,398. This represents a 25.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 90,486 shares of company stock valued at $12,526,311. 0.22% of the stock is owned by insiders.

Phillips 66 Price Performance

PSX opened at $139.64 on Tuesday. The firm’s fifty day moving average price is $134.87 and its two-hundred day moving average price is $127.94. The company has a market capitalization of $56.26 billion, a price-to-earnings ratio of 38.15, a P/E/G ratio of 1.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $143.25.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The business had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same period in the previous year, the company earned $2.04 earnings per share. As a group, analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a $1.20 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.4%. Phillips 66’s dividend payout ratio is currently 131.15%.

About Phillips 66

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.