Brookstone Capital Management Acquires 1,450 Shares of Phillips 66 (NYSE:PSX)

Brookstone Capital Management raised its stake in shares of Phillips 66 (NYSE:PSX) by 6.7% in the 1st quarter, Holdings Channel reports. The firm owned 23,076 shares of the oil and gas company’s stock after purchasing an additional 1,450 shares during the quarter. Brookstone Capital Management’s holdings in Phillips 66 were worth $3,769,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Mutual Advisors LLC raised its holdings in Phillips 66 by 2.9% during the 3rd quarter. Mutual Advisors LLC now owns 8,425 shares of the oil and gas company’s stock worth $1,012,000 after purchasing an additional 234 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Phillips 66 by 369.5% in the third quarter. Tower Research Capital LLC TRC now owns 27,135 shares of the oil and gas company’s stock valued at $3,260,000 after buying an additional 21,355 shares during the period. Itau Unibanco Holding S.A. boosted its position in Phillips 66 by 43.5% during the third quarter. Itau Unibanco Holding S.A. now owns 597 shares of the oil and gas company’s stock valued at $72,000 after acquiring an additional 181 shares during the last quarter. Caxton Associates LP acquired a new stake in Phillips 66 during the 3rd quarter worth about $320,000. Finally, Richard Bernstein Advisors LLC acquired a new stake in Phillips 66 during the 3rd quarter worth about $2,820,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $139.40 on Friday. The company has a market cap of $59.10 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 2.08 and a beta of 1.37. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. Phillips 66 has a 52 week low of $91.78 and a 52 week high of $174.08. The business has a 50 day moving average price of $143.46 and a 200-day moving average price of $144.50.

Phillips 66 (NYSE:PSX) last released its quarterly 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). The company had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the previous year, the company posted $4.21 earnings per share. Equities analysts anticipate that Phillips 66 will post 11.22 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were given a dividend of $1.15 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s dividend payout ratio is currently 35.38%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Raymond James cut their target price on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Barclays reduced their price objective on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Mizuho cut their target price on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Finally, Bank of America raised their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $157.79.

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.