Phillips 66 (NYSE:PSX) Holdings Decreased by Brookstone Capital Management

Brookstone Capital Management decreased its position in shares of Phillips 66 (NYSE:PSX – Get Rating) by 21.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,134 shares of the oil and gas company’s stock after selling 8,158 shares during the period. Brookstone Capital Management’s holdings in Phillips 66 were worth $3,185,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Fortem Financial Group LLC boosted its position in Phillips 66 by 0.9% during the third quarter. Fortem Financial Group LLC now owns 10,409 shares of the oil and gas company’s stock valued at $840,000 after purchasing an additional 94 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in Phillips 66 by 1.3% during the third quarter. Checchi Capital Advisers LLC now owns 7,385 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 97 shares during the last quarter. Resources Management Corp CT ADV boosted its position in Phillips 66 by 1.0% during the third quarter. Resources Management Corp CT ADV now owns 10,405 shares of the oil and gas company’s stock valued at $840,000 after purchasing an additional 100 shares during the last quarter. Carolinas Wealth Consulting LLC boosted its position in Phillips 66 by 9.7% during the third quarter. Carolinas Wealth Consulting LLC now owns 1,142 shares of the oil and gas company’s stock valued at $92,000 after purchasing an additional 101 shares during the last quarter. Finally, Securian Asset Management Inc. boosted its position in Phillips 66 by 0.3% during the third quarter. Securian Asset Management Inc. now owns 39,080 shares of the oil and gas company’s stock valued at $3,155,000 after purchasing an additional 103 shares during the last quarter. Institutional investors and hedge funds own 70.76% of the company’s stock.

Insider Activity at Phillips 66

In other news, Director Gregory Hayes purchased 10,250 shares of the stock in a transaction that occurred on Thursday, February 2nd. The shares were purchased at an average cost of $97.75 per share, for a total transaction of $1,001,937.50. Following the completion of the purchase, the director now directly owns 14,299 shares of the company’s stock, valued at approximately $1,397,727.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.74% of the company’s stock.

Phillips 66 Trading Down 0.3 %

Phillips 66 stock opened at $94.72 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.38. The business’s 50-day simple moving average is $102.53 and its 200-day simple moving average is $99.45. The firm has a market capitalization of $43.94 billion, a PE ratio of 4.13, a PEG ratio of 0.32 and a beta of 1.37. Phillips 66 has a 52 week low of $74.02 and a 52 week high of $113.53.

Phillips 66 (NYSE:PSX – Get Rating) last issued its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.35). Phillips 66 had a net margin of 6.27% and a return on equity of 31.20%. The firm had revenue of $40.91 billion for the quarter, compared to the consensus estimate of $34.30 billion. During the same quarter in the prior year, the firm earned $2.94 earnings per share. Equities research analysts forecast that Phillips 66 will post 15.68 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 4.43%. This is a positive change from Phillips 66’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, February 17th. Phillips 66’s payout ratio is currently 18.30%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PSX shares. Mizuho reduced their price target on Phillips 66 from $121.00 to $120.00 in a research report on Friday, March 10th. Piper Sandler reduced their price target on Phillips 66 from $155.00 to $137.00 and set an “overweight” rating for the company in a research report on Monday, December 19th. StockNews.com started coverage on Phillips 66 in a research report on Thursday. They issued a “buy” rating for the company. Royal Bank of Canada boosted their price target on Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Finally, Raymond James boosted their price target on Phillips 66 from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, January 13th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.27.

Phillips 66 Profile

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.