Phillips 66 (NYSE:PSX) Shares Acquired by Brighton Jones LLC

Brighton Jones LLC lifted its stake in Phillips 66 (NYSE:PSX) by 5.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,607 shares of the oil and gas company’s stock after acquiring an additional 223 shares during the quarter. Brighton Jones LLC’s holdings in Phillips 66 were worth $650,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Intech Investment Management LLC lifted its stake in Phillips 66 by 40.9% during the second quarter. Intech Investment Management LLC now owns 146,221 shares of the oil and gas company’s stock worth $20,642,000 after purchasing an additional 42,457 shares in the last quarter. MQS Management LLC acquired a new position in Phillips 66 during the 2nd quarter worth about $334,000. XTX Topco Ltd purchased a new position in Phillips 66 during the 2nd quarter valued at about $534,000. Altrius Capital Management Inc grew its position in Phillips 66 by 1.4% in the 2nd quarter. Altrius Capital Management Inc now owns 29,561 shares of the oil and gas company’s stock valued at $4,173,000 after acquiring an additional 400 shares in the last quarter. Finally, Thomist Capital Management LP purchased a new stake in Phillips 66 during the second quarter worth about $14,969,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PSX shares. Wolfe Research started coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Piper Sandler decreased their price target on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating for the company in a research report on Friday. Raymond James boosted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Argus reiterated a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a research note on Thursday, May 30th. Finally, TD Cowen lowered their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $154.21.

Phillips 66 Trading Down 1.9 %

NYSE PSX opened at $129.97 on Friday. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The company has a market capitalization of $55.10 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 4.67 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The firm’s fifty day moving average price is $135.20 and its 200 day moving average price is $143.67.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same period in the previous year, the business earned $3.87 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts expect that Phillips 66 will post 9.1 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s payout ratio is 35.38%.

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.