Brookstone Capital Management Has $3.77 Million Position in Phillips 66 (NYSE:PSX)

Brookstone Capital Management raised its stake in shares of Phillips 66 (NYSE:PSX) by 6.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,076 shares of the oil and gas company’s stock after acquiring an additional 1,450 shares during the quarter. Brookstone Capital Management’s holdings in Phillips 66 were worth $3,769,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in Phillips 66 by 20.3% during the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after buying an additional 1,842,226 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Phillips 66 by 2.1% in the 3rd quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock worth $813,291,000 after acquiring an additional 138,646 shares in the last quarter. Norges Bank bought a new stake in Phillips 66 during the 4th quarter worth approximately $559,435,000. Boston Partners increased its holdings in Phillips 66 by 962.0% during the 4th quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after purchasing an additional 3,494,878 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Phillips 66 by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,702,734 shares of the oil and gas company’s stock valued at $492,974,000 after purchasing an additional 315,889 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.3 %

NYSE:PSX opened at $139.40 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. Phillips 66 has a 1-year low of $91.78 and a 1-year high of $174.08. The firm has a market capitalization of $59.10 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 2.08 and a beta of 1.37. The business’s 50-day moving average price is $143.46 and its two-hundred day moving average price is $144.50.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter in the prior year, the business earned $4.21 earnings per share. On average, equities analysts expect that Phillips 66 will post 11.22 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared 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 represents a $4.60 dividend on an annualized basis and a dividend yield of 3.30%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Scotiabank raised their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. The Goldman Sachs Group boosted their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Barclays decreased their price target on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. Finally, Mizuho dropped their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.79.

Insider Activity

In related news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is owned by company insiders.

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.