Verity & Verity LLC Grows Position in Phillips 66 (NYSE:PSX)

Verity & Verity LLC grew its position in shares of Phillips 66 (NYSE:PSX) by 33.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,260 shares of the oil and gas company’s stock after acquiring an additional 22,719 shares during the quarter. Verity & Verity LLC’s holdings in Phillips 66 were worth $10,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Advisory Alpha LLC boosted its holdings in Phillips 66 by 4.8% during the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after purchasing an additional 76 shares during the last quarter. Krane Funds Advisors LLC lifted its position in shares of Phillips 66 by 3.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after buying an additional 82 shares in the last quarter. Richwood Investment Advisors LLC boosted its stake in shares of Phillips 66 by 1.9% in the 3rd quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock worth $602,000 after buying an additional 85 shares during the last quarter. Cobblestone Capital Advisors LLC NY grew its holdings in shares of Phillips 66 by 0.5% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock valued at $2,307,000 after acquiring an additional 89 shares in the last quarter. Finally, Western Financial Corp CA increased its position in shares of Phillips 66 by 1.6% during the third quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock valued at $773,000 after acquiring an additional 91 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Bank of America started coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Barclays lowered 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 report on Monday, January 13th. UBS Group reduced their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Stock Performance

Phillips 66 stock opened at $120.64 on Friday. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The firm’s fifty day moving average price is $122.59 and its 200-day moving average price is $129.88. The stock has a market cap of $49.82 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $4.63 EPS. On average, equities research analysts expect that Phillips 66 will post 7.22 earnings per share for the current fiscal year.

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.