Bank OZK Acquires 2,521 Shares of Phillips 66 (NYSE:PSX)

Bank OZK grew its holdings in Phillips 66 (NYSE:PSX) by 30.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,855 shares of the oil and gas company’s stock after acquiring an additional 2,521 shares during the period. Bank OZK’s holdings in Phillips 66 were worth $1,237,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after acquiring an additional 60,355 shares in the last quarter. Flavin Financial Services Inc. bought a new stake in Phillips 66 in the fourth quarter worth approximately $1,190,000. Everence Capital Management Inc. bought a new stake in Phillips 66 in the fourth quarter worth approximately $3,033,000. Donoghue Forlines LLC bought a new stake in Phillips 66 in the fourth quarter worth approximately $1,438,000. Finally, Mizuho Securities USA LLC grew its position in Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on PSX. UBS Group decreased their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. StockNews.com upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, February 22nd. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Mizuho reduced their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Price Performance

NYSE:PSX opened at $129.81 on Friday. The stock has a market cap of $52.92 billion, a P/E ratio of 26.28, a PEG ratio of 4.84 and a beta of 1.37. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a fifty day moving average price of $120.60 and a 200 day moving average price of $126.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the firm earned $3.09 EPS. Analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio is 93.12%.

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.