Simmons Bank Acquires 2,317 Shares of Phillips 66 (NYSE:PSX)

Simmons Bank boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,147 shares of the oil and gas company’s stock after purchasing an additional 2,317 shares during the period. Simmons Bank’s holdings in Phillips 66 were worth $9,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brown Advisory Inc. increased its holdings in shares of Phillips 66 by 5.5% during the third quarter. Brown Advisory Inc. now owns 56,217 shares of the oil and gas company’s stock worth $6,755,000 after buying an additional 2,939 shares in the last quarter. Everhart Financial Group Inc. increased its holdings in shares of Phillips 66 by 9.1% during the third quarter. Everhart Financial Group Inc. now owns 2,792 shares of the oil and gas company’s stock worth $335,000 after buying an additional 234 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of Phillips 66 by 16.0% during the third quarter. Lindbrook Capital LLC now owns 3,159 shares of the oil and gas company’s stock worth $380,000 after buying an additional 435 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Phillips 66 by 2.6% during the third quarter. Verdence Capital Advisors LLC now owns 8,727 shares of the oil and gas company’s stock worth $1,049,000 after buying an additional 223 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Phillips 66 by 6.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 180,231 shares of the oil and gas company’s stock worth $21,655,000 after buying an additional 10,881 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 1.6 %

PSX stock traded up $2.38 during trading on Wednesday, reaching $147.59. The stock had a trading volume of 1,688,750 shares, compared to its average volume of 2,925,034. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company’s 50 day moving average is $155.48 and its two-hundred day moving average is $138.78. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $62.57 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the business earned $4.21 earnings per share. Equities research analysts forecast that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is 32.31%.

Insider Activity at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,056 shares of company stock worth $5,272,681. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PSX. Scotiabank increased their price objective on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Bank of America increased their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. The Goldman Sachs Group increased their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. increased their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Finally, Mizuho cut their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Phillips 66 Company 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.