Verition Fund Management LLC trimmed its holdings in Phillips 66 (NYSE:PSX – Get Rating) by 35.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,716 shares of the oil and gas company's stock after selling 15,304 shares during the period. Verition Fund Management LLC's holdings in Phillips 66 were worth $2,272,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Phillips 66 in the 1st quarter valued at about $273,000. Cibc World Market Inc. lifted its stake in shares of Phillips 66 by 489.5% in the 2nd quarter. Cibc World Market Inc. now owns 42,656 shares of the oil and gas company's stock valued at $3,497,000 after purchasing an additional 35,420 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Phillips 66 by 24.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,771 shares of the oil and gas company's stock valued at $326,000 after purchasing an additional 738 shares in the last quarter. Walker Asset Management LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at about $7,332,000. Finally, Resources Management Corp CT ADV lifted its position in Phillips 66 by 3.2% during the 1st quarter. Resources Management Corp CT ADV now owns 10,315 shares of the oil and gas company's stock worth $891,000 after acquiring an additional 320 shares in the last quarter. 71.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 3,000 shares of the company's stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $111.86, for a total transaction of $335,580.00. Following the completion of the sale, the vice president now owns 15,302 shares in the company, valued at approximately $1,711,681.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.74% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Phillips 66 Stock Performance

Shares of PSX stock opened at $100.64 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.06. Phillips 66 has a fifty-two week low of $68.57 and a fifty-two week high of $113.53. The stock's 50-day moving average is $103.51 and its two-hundred day moving average is $93.64. The firm has a market cap of $47.57 billion, a P/E ratio of 4.60, a PEG ratio of 0.28 and a beta of 1.43.

Phillips 66 (NYSE:PSX – Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The oil and gas company reported $6.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $1.64. Phillips 66 had a return on equity of 32.66% and a net margin of 6.18%. During the same quarter in the prior year, the firm posted $3.18 earnings per share. Analysts predict that Phillips 66 will post 19.94 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th were paid a dividend of $0.97 per share. The ex-dividend date was Wednesday, November 16th. This represents a $3.88 annualized dividend and a dividend yield of 3.86%. Phillips 66's dividend payout ratio (DPR) is presently 17.75%.

About Phillips 66

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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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