Verity & Verity 13F: Cuts Phillips 66 (PSX) Stake by $10M

Verity & Verity trimmed its holdings in Phillips 66 PSX by 35.1% during the quarter, according to a Form 13F filing with the SEC on October 23, 2026. The institutional investor sold 39,309 shares of the energy company, leaving it with 72,722 shares. That remaining stake carried a value of about $18.6 million at the close of the period.

PSX Phillips 66

$284.63 ▲ +122.56% year to date

1M 3M YTD

Daily close · Oct 22, 2026

What Changed in Verity & Verity's Phillips 66 Position

Prior to the adjustment, Verity & Verity held 112,301 shares of Phillips 66. The reduction of 39,309 shares brought the total down to 72,722 shares. Phillips 66 closed at $283.18 on the filing date.

Other Institutional Activity in Phillips 66

Other large investors adjusted their positions in Phillips 66 as well. PensionDanmark Pensionsforsikringsaktieselskab grew its holdings by 17,956 shares, ending with 104,185 shares worth about $26.6 million. Amanah Holdings Trust held 573,065 shares valued at roughly $146.3 million. Elliott Investment Management L.P. maintained its large stake of 19,251,000 shares valued at about $5.5 billion. Wells Fargo & Company trimmed its position by 1,308,468 shares, finishing with 12,479,393 shares worth approximately $3.5 billion. Bank Of New York Mellon Corporation reduced its holdings by 412,772 shares to end with 6,466,764 shares valued at about $1.8 billion.

Phillips 66 Stock Down 1.7%

Phillips 66 shares recently traded around $285.24 on October 24, 2026, which is up about 0.7% from the filing date close of $283.18. The stock has experienced a strong run over the past year, trading well above its 200-day moving average of $194.77 and nearing its 52-week high of $299.39.

Recent Earnings

Phillips 66 posted strong trailing twelve-month revenue of $152.2 billion and earnings of $17.50 per share. The company reported a net profit margin of 4.7% and a return on equity of 23.5%. Its next quarterly earnings update is scheduled for October 28, 2026.

Dividend

Phillips 66 distributes an annual dividend rate of $5.32 per share, which translates to a dividend yield of 1.87%. The company pays out 28.2% of its earnings as dividends to shareholders.

Insider Buying and Selling at Phillips 66

Company insiders were active in the market prior to the filing. Director Lisa Ann Davis sold 1,515 shares on August 10, 2026, in a transaction valued at $314,713. Officer Brian Mandell sold 33,300 shares on August 11, 2026, worth about $7.2 million, and later sold another 23,400 shares on September 16, 2026, for roughly $6.2 million. Officer Richard G Harbison sold 52,100 shares on August 12, 2026, at an average price of $223.76, totaling $11.7 million.

Analysts Set New Price Targets

Wall Street firms updated their views on the stock ahead of the filing. Barclays maintained its Equal-Weight rating with a $282 price target on October 12, 2026. Evercore ISI Group kept an Outperform rating and raised its target to $250 on the same day. Citigroup maintained a Neutral rating while lifting its target to $297 on October 13, 2026. Wells Fargo maintained an Overweight rating with a $345 target on October 14, 2026. TD Cowen maintained a Buy rating and set a $308 target on October 22, 2026. Overall, the stock carries a consensus buy rating with a mean price target of $285.74 across 19 analyst opinions.

About Phillips 66

Phillips 66 operates as an integrated downstream energy provider with operations across the United States, Europe, and international markets. The company handles crude oil and refined products through five core segments, including midstream logistics, chemicals manufacturing, refining operations, marketing and specialties, and renewable fuels development.

Bottom Line

Investors are keeping an eye on Phillips 66 as it approaches its next earnings report on October 28, 2026. Institutional adjustments and analyst price targets will continue to guide sentiment around the stock's valuation near its yearly highs.