Verity & Verity LLC Buys 1,481 Shares of Phillips 66 $PSX

Verity & Verity LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,103 shares of the oil and gas company’s stock after acquiring an additional 1,481 shares during the period. Verity & Verity LLC’s holdings in Phillips 66 were worth $12,658,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PSX. WealthTrust Axiom LLC increased its position in shares of Phillips 66 by 1.1% during the first quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after purchasing an additional 81 shares during the period. Wolff Wiese Magana LLC raised its stake in shares of Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 82 shares in the last quarter. Magnus Financial Group LLC raised its stake in shares of Phillips 66 by 2.8% in the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after buying an additional 84 shares in the last quarter. Biltmore Wealth Management LLC lifted its holdings in shares of Phillips 66 by 2.4% during the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock worth $431,000 after acquiring an additional 85 shares during the period. Finally, XML Financial LLC increased its stake in Phillips 66 by 0.5% in the second quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock valued at $2,093,000 after acquiring an additional 85 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the transaction, the chief financial officer owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,986 shares of company stock worth $8,955,291 over the last 90 days. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PSX. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Morgan Stanley boosted their price target on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. Zacks Research lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. Barclays boosted their target price on shares of Phillips 66 from $132.00 to $141.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Finally, Wells Fargo & Company increased their target price on shares of Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $145.71.

Phillips 66 Trading Down 0.3%

PSX opened at $132.78 on Tuesday. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $143.25. The stock has a market capitalization of $53.50 billion, a PE ratio of 36.28, a PEG ratio of 1.81 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $134.38 and a two-hundred day moving average price of $127.40.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The company had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. During the same period in the prior year, the business earned $2.04 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company 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. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. Phillips 66’s payout ratio is presently 131.15%.

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.