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

Verity & Verity LLC increased its stake in Phillips 66 (NYSE:PSX - Free Report) by 33.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,260 shares of the oil and gas company's stock after buying an additional 22,719 shares during the period. Verity & Verity LLC's holdings in Phillips 66 were worth $10,283,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Mizuho Securities USA LLC increased its stake in shares of Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock valued at $328,625,000 after buying an additional 2,467,316 shares during the period. ING Groep NV lifted its stake in Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company's stock worth $155,503,000 after acquiring an additional 653,032 shares during the period. Bank of Montreal Can increased its position in Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company's stock valued at $214,120,000 after purchasing an additional 633,970 shares during the period. Mizuho Markets Americas LLC bought a new stake in shares of Phillips 66 in the 3rd quarter valued at about $70,983,000. Finally, Canada Pension Plan Investment Board lifted its position in shares of Phillips 66 by 574.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company's stock worth $62,545,000 after purchasing an additional 377,314 shares during the period. Institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PSX. UBS Group cut their price target on Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Barclays dropped 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 report on Monday, January 13th. Wolfe Research upgraded Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. JPMorgan Chase & Co. dropped their target price on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 2nd. Finally, Mizuho cut their price target on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $147.93.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded up $1.01 during trading hours on Friday, hitting $120.64. 2,722,245 shares of the company were exchanged, compared to its average volume of 2,658,786. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average of $122.47 and a 200-day moving average of $129.66. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The stock has a market capitalization of $49.82 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 3.17 and a beta of 1.38.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. During the same period last year, the firm earned $4.63 EPS. The company's quarterly revenue was down 10.3% compared to the same quarter last year. As a group, analysts expect that Phillips 66 will post 7.22 EPS for the current fiscal year.

About Phillips 66

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.