Pinnacle Financial Partners Inc Increases Holdings in Phillips 66 (NYSE:PSX)

Pinnacle Financial Partners Inc increased its stake in Phillips 66 (NYSE:PSX) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,413 shares of the oil and gas company’s stock after purchasing an additional 637 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Phillips 66 were worth $749,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Navellier & Associates Inc. grew its position in shares of Phillips 66 by 10.6% in the fourth quarter. Navellier & Associates Inc. now owns 52,830 shares of the oil and gas company’s stock valued at $6,019,000 after purchasing an additional 5,071 shares in the last quarter. Bell Bank grew its position in shares of Phillips 66 by 11.5% in the fourth quarter. Bell Bank now owns 2,644 shares of the oil and gas company’s stock valued at $301,000 after purchasing an additional 272 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its position in shares of Phillips 66 by 2.3% in the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 11,359 shares of the oil and gas company’s stock valued at $1,294,000 after purchasing an additional 250 shares in the last quarter. Compass Capital Corp MA ADV purchased a new position in shares of Phillips 66 in the fourth quarter valued at $327,000. Finally, WP Advisors LLC boosted its stake in Phillips 66 by 14.3% during the fourth quarter. WP Advisors LLC now owns 4,282 shares of the oil and gas company’s stock valued at $488,000 after buying an additional 537 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 2.1 %

Shares of PSX stock opened at $128.78 on Monday. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $119.17 and a two-hundred day moving average price of $127.03. The firm has a market cap of $53.18 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the business posted $3.09 earnings per share. Equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Wall Street Analysts Forecast Growth

PSX has been the subject of several research analyst reports. UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. StockNews.com raised Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday. Barclays dropped their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, Mizuho dropped their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.