Bank OZK Increases Stock Position in Phillips 66 (NYSE:PSX)

Bank OZK boosted its stake in shares of Phillips 66 (NYSE:PSX) by 68.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,913 shares of the oil and gas company’s stock after buying an additional 2,001 shares during the quarter. Bank OZK’s holdings in Phillips 66 were worth $654,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Valmark Advisers Inc. boosted its stake in shares of Phillips 66 by 2.1% in the fourth quarter. Valmark Advisers Inc. now owns 6,269 shares of the oil and gas company’s stock valued at $835,000 after purchasing an additional 128 shares during the period. Addison Advisors LLC increased its position in shares of Phillips 66 by 94.9% during the fourth quarter. Addison Advisors LLC now owns 1,368 shares of the oil and gas company’s stock worth $182,000 after acquiring an additional 666 shares during the period. Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth $377,000. Headlands Technologies LLC increased its position in shares of Phillips 66 by 17.6% during the fourth quarter. Headlands Technologies LLC now owns 3,894 shares of the oil and gas company’s stock worth $518,000 after acquiring an additional 582 shares during the period. Finally, Citizens Financial Group Inc. RI increased its position in shares of Phillips 66 by 17.6% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,233 shares of the oil and gas company’s stock worth $697,000 after acquiring an additional 785 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX traded down $5.83 during trading hours on Friday, hitting $151.41. The company had a trading volume of 4,206,800 shares, compared to its average volume of 2,131,287. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a market cap of $64.78 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 1.90 and a beta of 1.37. The business has a 50 day moving average of $155.55 and a 200-day moving average of $136.88.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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). Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The company had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same quarter in the prior year, the company earned $4.21 EPS. As a group, equities research analysts expect that Phillips 66 will post 13.77 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 29.73%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PSX. Bank of America upped their price objective on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Raymond James upped their price objective on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Barclays upped their price objective on Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. The Goldman Sachs Group upped their price objective on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Mizuho dropped their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.00.

Insider Transactions at Phillips 66

In other news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Phillips 66 news, Director Robert W. Pease bought 682 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,056 shares of company stock worth $5,272,681. Company insiders own 0.22% of the company’s stock.

Phillips 66 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.