Brookstone Capital Management Has $2.40 Million Stock Position in Phillips 66 $PSX

Brookstone Capital Management grew its stake in shares of Phillips 66 (NYSE:PSX) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,130 shares of the oil and gas company’s stock after purchasing an additional 614 shares during the quarter. Brookstone Capital Management’s holdings in Phillips 66 were worth $2,402,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC increased its position in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Phillips 66 during the 1st quarter worth approximately $27,000. Olde Wealth Management LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC bought a new position in shares of Phillips 66 during the 1st quarter worth approximately $29,000. Finally, Pinpoint Asset Management Ltd bought a new position in shares of Phillips 66 during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PSX. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and set a $150.00 target price (up from $145.00) on shares of Phillips 66 in a research note on Friday, October 17th. Wells Fargo & Company began coverage on Phillips 66 in a research note on Friday, October 17th. They set an “overweight” rating and a $154.00 target price for the company. Jefferies Financial Group lifted their target price on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Finally, Bank of America downgraded Phillips 66 from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $141.50.

Phillips 66 Stock Performance

PSX opened at $135.07 on Friday. The business has a fifty day simple moving average of $131.51 and a 200 day simple moving average of $121.79. The company has a market capitalization of $54.58 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 1.78 and a beta of 1.11. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $142.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period in the previous year, the company posted $2.31 EPS. Research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio is presently 115.38%.

Insider Buying and Selling

In related news, Director Michael A. Heim bought 1,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the transaction, the director owned 12,043 shares in the company, valued at $1,517,056.71. The trade was a 9.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sigmund L. Cornelius bought 500 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were bought at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the transaction, the director owned 21,543 shares in the company, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is owned by insiders.

Phillips 66 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.