Brookstone Capital Management Decreases Holdings in Phillips 66 (NYSE:PSX)

Brookstone Capital Management cut its holdings in shares of Phillips 66 (NYSE:PSX) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,564 shares of the oil and gas company’s stock after selling 1,563 shares during the quarter. Brookstone Capital Management’s holdings in Phillips 66 were worth $2,343,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Advisory Alpha LLC increased its stake in shares of Phillips 66 by 4.8% in the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after buying an additional 76 shares during the period. Krane Funds Advisors LLC grew its position in shares of Phillips 66 by 3.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after buying an additional 82 shares during the period. Richwood Investment Advisors LLC grew its position in shares of Phillips 66 by 1.9% in the 3rd quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock worth $602,000 after buying an additional 85 shares during the period. Cobblestone Capital Advisors LLC NY grew its position in shares of Phillips 66 by 0.5% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock worth $2,307,000 after buying an additional 89 shares during the period. Finally, Western Financial Corp CA grew its position in shares of Phillips 66 by 1.6% in the 3rd quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock worth $773,000 after buying an additional 91 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

NYSE PSX opened at $119.04 on Thursday. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The stock has a market cap of $49.16 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 4.06 and a beta of 1.38. The company’s 50 day moving average is $122.91 and its two-hundred day moving average is $130.03. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period last year, the firm posted $4.63 EPS. The company’s revenue was down 10.3% on a year-over-year basis. As a group, research analysts anticipate that Phillips 66 will post 7.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PSX. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Bank of America initiated coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Finally, UBS Group dropped their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.93.

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.