Brighton Jones LLC Acquires 1,401 Shares of Phillips 66 (NYSE:PSX)

Brighton Jones LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 45.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,508 shares of the oil and gas company’s stock after purchasing an additional 1,401 shares during the period. Brighton Jones LLC’s holdings in Phillips 66 were worth $600,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Barclays PLC raised its position in Phillips 66 by 4.2% during the 3rd quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock worth $932,447,000 after purchasing an additional 309,239 shares during the last quarter. Morgan Stanley lifted its stake in shares of Phillips 66 by 2.1% in the third 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 during the period. Northern Trust Corp boosted its holdings in Phillips 66 by 6.2% in the third quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock valued at $586,463,000 after acquiring an additional 283,010 shares during the last quarter. Bank of New York Mellon Corp increased its position in Phillips 66 by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock valued at $549,156,000 after purchasing an additional 502,785 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Phillips 66 by 21.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,946,809 shares of the oil and gas company’s stock worth $233,909,000 after purchasing an additional 350,211 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $143.87 on Friday. The firm has a 50 day simple moving average of $155.62 and a two-hundred day simple moving average of $137.81. The stock has a market cap of $60.99 billion, a PE ratio of 11.07, a P/E/G ratio of 1.77 and a beta of 1.41. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 1.02.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) 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 analysts’ expectations of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter in the previous year, the company posted $4.21 earnings per share. On average, analysts predict that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.20%. Phillips 66’s payout ratio is currently 32.31%.

Insider Buying and Selling at Phillips 66

In related news, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares in the company, valued at approximately $278,502. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other Phillips 66 news, Director Robert W. Pease bought 682 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the acquisition, the director now directly owns 1,900 shares in the company, valued at $278,502. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock worth $5,272,681 over the last three months. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PSX. Piper Sandler boosted their target price on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. The Goldman Sachs Group upped their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. raised their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Raymond James lifted their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.43.

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.