Simmons Bank Has $9.34 Million Stake in Phillips 66 (NYSE:PSX)

Simmons Bank boosted its position in shares of Phillips 66 (NYSE:PSX) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,147 shares of the oil and gas company’s stock after acquiring 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.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of Phillips 66 by 4.2% during the 3rd quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock worth $932,447,000 after purchasing an additional 309,239 shares during the period. Morgan Stanley increased its holdings in shares of Phillips 66 by 2.1% during the 3rd quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock worth $813,291,000 after purchasing an additional 138,646 shares during the period. Northern Trust Corp increased its holdings in shares of Phillips 66 by 6.2% during the 3rd quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock worth $586,463,000 after purchasing an additional 283,010 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Phillips 66 by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,924,738 shares of the oil and gas company’s stock worth $389,393,000 after purchasing an additional 28,826 shares during the period. Finally, LSV Asset Management increased its stake in Phillips 66 by 2.0% in the fourth quarter. LSV Asset Management now owns 1,967,536 shares of the oil and gas company’s stock valued at $261,958,000 after acquiring an additional 38,673 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

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

Analyst Ratings Changes

A number of analysts recently weighed in on PSX shares. Citigroup started coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating on the stock. Wells Fargo & Company upped their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. 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 research note on Thursday, April 11th. The Goldman Sachs Group boosted their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Mizuho reduced 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 analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $157.43.

Phillips 66 Stock Up 1.6 %

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

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The company had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same period in the prior year, the firm posted $4.21 EPS. On average, sell-side analysts forecast that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

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

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.