Bank OZK Increases Position in Phillips 66 $PSX

Key Points

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Bank OZK boosted its holdings in Phillips 66 (NYSE:PSX - Free Report) by 26.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,780 shares of the oil and gas company's stock after purchasing an additional 2,925 shares during the quarter. Bank OZK's holdings in Phillips 66 were worth $1,702,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cary Street Partners Financial LLC bought a new position in Phillips 66 in the fourth quarter worth approximately $4,333,000. Wealth Enhancement Advisory Services LLC increased its holdings in Phillips 66 by 20.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock valued at $19,625,000 after acquiring an additional 26,825 shares during the last quarter. Alta Advisers Ltd bought a new position in shares of Phillips 66 during the 1st quarter valued at about $253,000. Advisory Resource Group boosted its holdings in shares of Phillips 66 by 6.8% during the 1st quarter. Advisory Resource Group now owns 256,327 shares of the oil and gas company's stock valued at $31,651,000 after purchasing an additional 16,300 shares during the last quarter. Finally, Sustainable Insight Capital Management LLC bought a new position in shares of Phillips 66 during the 1st quarter valued at about $1,457,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $122.95 on Tuesday. The stock has a market cap of $49.69 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 1.70 and a beta of 1.09. The company has a fifty day simple moving average of $123.98 and a 200-day simple moving average of $118.91. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $140.85. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. During the same period last year, the business earned $2.31 EPS. Equities analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is currently 115.38%.

Insider Activity

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total value of $571,090.00. Following the transaction, the executive vice president directly owned 43,373 shares in the company, valued at approximately $5,638,490. The trade was a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president owned 56,838 shares in the company, valued at approximately $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 10,289 shares of company stock worth $1,238,890 over the last three months. Company insiders own 0.22% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on PSX shares. Compass Point began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "buy" rating on the stock. Argus upgraded shares of Phillips 66 to a "strong-buy" rating in a research note on Thursday, July 31st. Morgan Stanley increased their price objective on shares of Phillips 66 from $122.00 to $128.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $133.00 price objective on shares of Phillips 66 in a research report on Friday, July 11th. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $136.20.

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.

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