Verity & Verity LLC Buys 22,719 Shares of Phillips 66 (NYSE:PSX)

Verity & Verity LLC increased its position in Phillips 66 (NYSE:PSX) by 33.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 90,260 shares of the oil and gas company’s stock after purchasing an additional 22,719 shares during the period. Verity & Verity LLC’s holdings in Phillips 66 were worth $10,283,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors boosted its holdings in shares of Phillips 66 by 14.2% during the fourth quarter. Arkadios Wealth Advisors now owns 48,900 shares of the oil and gas company’s stock worth $5,571,000 after purchasing an additional 6,071 shares during the period. Spring Capital Management LLC bought a new position in Phillips 66 during the 4th quarter valued at approximately $201,000. Folger Nolan Fleming Douglas Capital Management Inc. lifted its holdings in Phillips 66 by 8.6% in the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 2,525 shares of the oil and gas company’s stock worth $288,000 after buying an additional 200 shares during the period. O Keefe Stevens Advisory Inc. grew its position in shares of Phillips 66 by 0.5% in the 4th quarter. O Keefe Stevens Advisory Inc. now owns 23,971 shares of the oil and gas company’s stock worth $2,731,000 after buying an additional 120 shares during the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of Phillips 66 by 40.7% during the fourth quarter. Brooklyn Investment Group now owns 2,146 shares of the oil and gas company’s stock valued at $244,000 after buying an additional 621 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on PSX shares. 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. Barclays cut their target price 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. Scotiabank decreased their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company cut their price objective on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Finally, 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 target price for the company. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Stock Performance

Shares of PSX stock opened at $120.64 on Friday. The company has a market capitalization of $49.82 billion, a price-to-earnings 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 has a one year low of $108.90 and a one year high of $174.08. The company’s 50-day moving average is $122.59 and its 200 day moving average is $129.88.

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 for the quarter, beating the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $4.63 earnings per share. Sell-side analysts expect that Phillips 66 will post 7.22 EPS 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.