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

Verity & Verity LLC grew its holdings in Phillips 66 (NYSE:PSX - Free Report) by 15.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 104,622 shares of the oil and gas company's stock after buying an additional 14,362 shares during the period. Verity & Verity LLC's holdings in Phillips 66 were worth $12,919,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp raised its position in shares of Phillips 66 by 7.3% in the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock valued at $1,064,601,000 after buying an additional 639,323 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Phillips 66 by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock valued at $968,844,000 after buying an additional 82,758 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after buying an additional 4,455,220 shares during the last quarter. Northern Trust Corp raised its position in shares of Phillips 66 by 10.6% in the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock valued at $522,834,000 after buying an additional 440,107 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $497,648,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Up 0.6%

Shares of PSX traded up $0.68 during trading on Friday, reaching $122.20. 3,074,645 shares of the company traded hands, compared to its average volume of 3,030,076. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The stock has a market cap of $49.79 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02. The stock has a 50-day simple moving average of $109.24 and a 200-day simple moving average 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 - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same quarter in the prior year, the business earned $1.90 earnings per share. On average, analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $1.20 dividend. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.93%. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

Insider Activity

In other Phillips 66 news, Director Robert W. Pease acquired 439 shares of the stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the purchase, the director now owns 4,091 shares in the company, valued at $465,760.35. This trade represents a 12.02% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.22% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PSX shares. Scotiabank cut their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Barclays raised their price objective on shares of Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. TD Cowen raised their price objective on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Tudor Pickering cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $135.46.

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.