Phillips 66 (PSX) Position Cut by Brookstone Capital Management
Brookstone Capital Management reduced its position in shares of Phillips 66 (NYSE:PSX) by 14.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,309 shares of the oil and gas company’s stock after selling 577 shares during the period. Brookstone Capital Management’s holdings in Phillips 66 were worth $274,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in PSX. Jacobi Capital Management LLC increased its position in Phillips 66 by 27.4% during the first quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock worth $100,000 after purchasing an additional 277 shares during the last quarter. Westside Investment Management Inc. increased its position in Phillips 66 by 239.2% during the first quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock worth $110,000 after purchasing an additional 1,000 shares during the last quarter. FTB Advisors Inc. increased its position in Phillips 66 by 17.3% during the first quarter. FTB Advisors Inc. now owns 1,444 shares of the oil and gas company’s stock worth $113,000 after purchasing an additional 213 shares during the last quarter. Farmers National Bank acquired a new stake in Phillips 66 during the first quarter worth about $113,000. Finally, Meeder Asset Management Inc. acquired a new stake in Phillips 66 during the second quarter worth about $116,000. Hedge funds and other institutional investors own 69.53% of the company’s stock.
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In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.50% of the stock is owned by company insiders.
Several equities research analysts recently issued reports on the stock. BidaskClub raised shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Scotiabank reaffirmed a “hold” rating and set a $86.00 target price on shares of Phillips 66 in a research note on Tuesday, June 27th. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, June 30th. Jefferies Group LLC reaffirmed a “hold” rating and set a $78.00 target price on shares of Phillips 66 in a research note on Tuesday, September 5th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $98.00 target price on shares of Phillips 66 in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Phillips 66 has an average rating of “Hold” and an average target price of $84.33.
Phillips 66 (NYSE:PSX) opened at 91.80 on Thursday. The stock has a market cap of $46.96 billion, a price-to-earnings ratio of 27.47 and a beta of 1.20. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $92.08. The stock has a 50 day moving average of $84.43 and a 200 day moving average of $80.63.
Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.07. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. The firm had revenue of $24.58 billion for the quarter, compared to analyst estimates of $25.14 billion. During the same period last year, the company earned $0.94 earnings per share. Equities analysts expect that Phillips 66 will post $4.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.05%. The ex-dividend date was Wednesday, August 16th. Phillips 66’s dividend payout ratio is presently 83.58%.
Phillips 66 Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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