Phillips 66 (NYSE:PSX) Shares Purchased by Verity & Verity LLC

Verity & Verity LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 15.9% in the first quarter, HoldingsChannel.com reports. The firm owned 104,622 shares of the oil and gas company’s stock after acquiring an additional 14,362 shares during the quarter. Verity & Verity LLC’s holdings in Phillips 66 were worth $12,919,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bogart Wealth LLC boosted its stake in Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 120 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in Phillips 66 in the fourth quarter valued at $25,000. Pacific Center for Financial Services acquired a new position in Phillips 66 in the fourth quarter valued at $27,000. Graney & King LLC acquired a new position in Phillips 66 in the fourth quarter valued at $28,000. Finally, Wood Tarver Financial Group LLC acquired a new position in Phillips 66 in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.5%

NYSE PSX opened at $121.50 on Friday. The stock has a market capitalization of $49.50 billion, a P/E ratio of 24.60, a P/E/G ratio of 4.84 and a beta of 1.02. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. The firm has a 50-day moving average price of $109.24 and a 200 day moving average price of $117.65. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The firm had revenue of $31.92 billion for the quarter, compared to analysts’ expectations of $31.93 billion. During the same period in the prior year, the company earned $1.90 earnings per share. Equities research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $1.20 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 3.95%. The ex-dividend date was Monday, May 19th. Phillips 66’s dividend payout ratio is presently 109.34%.

Insiders Place Their Bets

In related news, Director Robert W. Pease bought 439 shares of the stock in a transaction on Thursday, May 22nd. The shares were bought 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 now owns 4,091 shares of the company’s stock, valued at $465,760.35. This represents a 12.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. UBS Group decreased their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Scotiabank reduced their target price on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a report on Wednesday. Barclays upped their target price on shares of Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Finally, Tudor Pickering cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.46.

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.