Brookwood Investment Group LLC Takes $359,000 Position in Phillips 66 (NYSE:PSX)

Key Points

• Brookwood Investment Group LLC has made a new investment of approximately $359,000 in Phillips 66, acquiring 2,909 shares of the company's stock in the first quarter.
• A recent earnings report revealed that Phillips 66 topped analysts' expectations, reporting $2.38 earnings per share and revenue of $33.77 billion for the quarter, surpassing expected revenue of $32.11 billion.
• Phillips 66 declared a quarterly dividend of $1.20 per share, which will be paid to shareholders on September 2nd, reflecting a 3.84% dividend yield.

Brookwood Investment Group LLC acquired a new position in Phillips 66 (NYSE:PSX - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,909 shares of the oil and gas company's stock, valued at approximately $359,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Lifeworks Advisors LLC bought a new position in Phillips 66 in the 1st quarter worth approximately $224,000. Journey Strategic Wealth LLC acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $202,000. Kovack Advisors Inc. grew its stake in shares of Phillips 66 by 525.5% in the 1st quarter. Kovack Advisors Inc. now owns 14,324 shares of the oil and gas company's stock worth $1,769,000 after purchasing an additional 12,034 shares during the last quarter. Argonautica Private Wealth Management Inc. grew its stake in shares of Phillips 66 by 1.2% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 20,115 shares of the oil and gas company's stock worth $2,484,000 after purchasing an additional 232 shares during the last quarter. Finally, Carnegie Investment Counsel grew its stake in shares of Phillips 66 by 21.9% in the 1st quarter. Carnegie Investment Counsel now owns 26,060 shares of the oil and gas company's stock worth $3,218,000 after purchasing an additional 4,686 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total transaction of $571,090.00. Following the sale, the executive vice president directly owned 43,373 shares of the company's stock, valued at $5,638,490. This trade represents a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert W. Pease bought 439 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the transaction, the director owned 4,091 shares of the company's stock, valued at $465,760.35. This represents a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.22% of the stock is owned by company insiders.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded down $0.99 during trading on Tuesday, reaching $126.70. The company's stock had a trading volume of 688,991 shares, compared to its average volume of 3,468,935. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23. The business's fifty day moving average price is $121.67 and its 200-day moving average price is $118.72. The firm has a market cap of $51.62 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 1.82 and a beta of 1.02. Phillips 66 has a one year low of $91.01 and a one year high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a return on equity of 4.86% and a net margin of 1.27%. During the same period in the previous year, the company posted $2.31 earnings per share. As a group, equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PSX shares. Citigroup lowered Phillips 66 from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $126.00 to $130.00 in a research note on Wednesday, July 16th. Evercore ISI started coverage on Phillips 66 in a research note on Wednesday, June 18th. They set an "outperform" rating and a $130.00 price objective for the company. Tudor Pickering lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research note on Wednesday, June 18th. Finally, TD Cowen raised their target price on Phillips 66 from $130.00 to $134.00 and gave the stock a "buy" rating in a research report on Monday. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $136.13.

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.