Brighton Jones LLC Purchases 7,214 Shares of Phillips 66 (NYSE:PSX)

Brighton Jones LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 238.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,239 shares of the oil and gas company’s stock after acquiring an additional 7,214 shares during the period. Brighton Jones LLC’s holdings in Phillips 66 were worth $1,166,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. nVerses Capital LLC bought a new stake in shares of Phillips 66 during the third quarter worth about $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 during the 3rd quarter worth approximately $30,000. Point72 Hong Kong Ltd bought a new stake in Phillips 66 during the 3rd quarter worth approximately $40,000. Strategic Investment Solutions Inc. IL acquired a new position in Phillips 66 in the 2nd quarter valued at approximately $51,000. Finally, Hoese & Co LLP raised its stake in shares of Phillips 66 by 33.1% during the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock valued at $53,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PSX. Wells Fargo & Company decreased their price objective on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. UBS Group lowered their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Barclays reduced their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Price Performance

PSX stock opened at $121.82 on Friday. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The stock has a market capitalization of $50.31 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 3.78 and a beta of 1.38. The company’s 50-day moving average is $121.81 and its 200-day moving average is $129.20. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.63 earnings per share. Equities research analysts expect that Phillips 66 will post 6.41 EPS for the current fiscal year.

About Phillips 66

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.