Verity Asset Management Inc. Acquires 330 Shares of Phillips 66 (NYSE:PSX)

Verity Asset Management Inc. boosted its holdings in Phillips 66 (NYSE:PSXGet Rating) by 8.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,019 shares of the oil and gas company’s stock after purchasing an additional 330 shares during the quarter. Verity Asset Management Inc.’s holdings in Phillips 66 were worth $291,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Norwood Financial Corp bought a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $33,000. CIBC Asset Management Inc increased its holdings in shares of Phillips 66 by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 41,869 shares of the oil and gas company’s stock valued at $3,034,000 after acquiring an additional 2,135 shares in the last quarter. Smith Moore & CO. increased its holdings in shares of Phillips 66 by 1.4% during the fourth quarter. Smith Moore & CO. now owns 11,929 shares of the oil and gas company’s stock valued at $864,000 after acquiring an additional 160 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Phillips 66 by 28.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,442 shares of the oil and gas company’s stock valued at $2,858,000 after acquiring an additional 8,772 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Phillips 66 by 292.7% during the fourth quarter. First Trust Advisors LP now owns 178,939 shares of the oil and gas company’s stock valued at $12,966,000 after acquiring an additional 133,374 shares in the last quarter. Institutional investors and hedge funds own 67.65% of the company’s stock.

In other Phillips 66 news, CEO Greg C. Garland sold 126,300 shares of the firm’s stock in a transaction dated Monday, February 7th. The stock was sold at an average price of $88.47, for a total value of $11,173,761.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert A. Herman sold 8,169 shares of the firm’s stock in a transaction dated Wednesday, February 2nd. The shares were sold at an average price of $85.87, for a total value of $701,472.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,469 shares of company stock valued at $12,955,593. 0.74% of the stock is owned by corporate insiders.

Several equities research analysts have recently commented on the company. Royal Bank of Canada boosted their price objective on Phillips 66 from $97.00 to $101.00 and gave the company an “outperform” rating in a report on Tuesday, February 1st. Wells Fargo & Company lifted their target price on Phillips 66 from $97.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, April 21st. Piper Sandler lifted their target price on Phillips 66 from $107.00 to $119.00 and gave the company an “overweight” rating in a research report on Monday, April 18th. Morgan Stanley lifted their target price on Phillips 66 from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 12th. Finally, Raymond James lifted their target price on Phillips 66 from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, January 31st. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Buy” and a consensus target price of $95.40.

Shares of PSX stock traded up $1.68 on Thursday, hitting $84.69. 114,924 shares of the stock were exchanged, compared to its average volume of 4,412,266. The company has a current ratio of 1.15, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $40.74 billion, a PE ratio of 28.04, a P/E/G ratio of 0.96 and a beta of 1.51. Phillips 66 has a one year low of $63.19 and a one year high of $94.34. The firm’s 50 day moving average is $82.98 and its two-hundred day moving average is $80.51.

Phillips 66 (NYSE:PSXGet Rating) last posted its quarterly earnings results on Friday, January 28th. The oil and gas company reported $2.94 earnings per share for the quarter, topping the consensus estimate of $1.93 by $1.01. Phillips 66 had a return on equity of 12.11% and a net margin of 1.15%. The company had revenue of $33.57 billion during the quarter, compared to the consensus estimate of $27.11 billion. During the same quarter in the prior year, the company earned ($1.16) EPS. On average, sell-side analysts expect that Phillips 66 will post 8.02 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 1st. Shareholders of record on Tuesday, February 22nd were paid a $0.92 dividend. The ex-dividend date was Friday, February 18th. This represents a $3.68 annualized dividend and a yield of 4.35%. Phillips 66’s dividend payout ratio is currently 124.32%.

Phillips 66 Company Profile (Get Rating)

Phillips 66 operates as an energy manufacturing and logistics company. 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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