Bank OZK Purchases 2,001 Shares of Phillips 66 (NYSE:PSX)

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

Several other hedge funds have also recently made changes to their positions in the stock. Cardinal Capital Management raised its holdings in shares of Phillips 66 by 0.3% during the fourth quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after purchasing an additional 77 shares during the last quarter. Aaron Wealth Advisors LLC raised its holdings in shares of Phillips 66 by 3.6% during the fourth quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock valued at $312,000 after purchasing an additional 82 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in shares of Phillips 66 by 1.3% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock valued at $865,000 after purchasing an additional 86 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Phillips 66 by 0.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock valued at $2,958,000 after purchasing an additional 90 shares during the last quarter. Finally, West Branch Capital LLC raised its holdings in shares of Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now 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 this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The shares were 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 of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. 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. 0.22% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Raymond James upped their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Bank of America upped their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Barclays upped their target price on shares of Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Scotiabank upped their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Finally, Mizuho reduced their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.00.

Phillips 66 Price Performance

Shares of NYSE:PSX traded down $5.83 during midday trading on Friday, reaching $151.41. 4,206,800 shares of the company were exchanged, compared to its average volume of 2,131,287. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The business’s fifty day moving average is $155.55 and its two-hundred day moving average is $136.88. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The stock 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.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the prior year, the company posted $4.21 EPS. As a group, analysts predict that Phillips 66 will post 13.77 earnings per share for the current year.

Phillips 66 Increases Dividend

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

About Phillips 66

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.