Phillips 66 (NYSE:PSX) Shares Acquired by Oakworth Capital Inc.

Oakworth Capital Inc. boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 36.5% in the 3rd quarter, Holdings Channel reports. The firm owned 1,660 shares of the oil and gas company’s stock after buying an additional 444 shares during the period. Oakworth Capital Inc.’s holdings in Phillips 66 were worth $218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PSX. Ballentine Partners LLC lifted its position in shares of Phillips 66 by 3.9% in the 1st quarter. Ballentine Partners LLC now owns 2,913 shares of the oil and gas company’s stock valued at $476,000 after acquiring an additional 110 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Phillips 66 in the 1st quarter valued at approximately $4,696,000. Gateway Investment Advisers LLC lifted its position in shares of Phillips 66 by 19.8% in the 1st quarter. Gateway Investment Advisers LLC now owns 11,705 shares of the oil and gas company’s stock valued at $1,912,000 after acquiring an additional 1,934 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of Phillips 66 by 3.2% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 7,056 shares of the oil and gas company’s stock valued at $1,153,000 after acquiring an additional 217 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its position in shares of Phillips 66 by 87.4% in the 1st quarter. Sunbelt Securities Inc. now owns 2,983 shares of the oil and gas company’s stock valued at $487,000 after acquiring an additional 1,391 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

NYSE:PSX opened at $131.43 on Wednesday. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The firm’s fifty day simple moving average is $133.02 and its 200 day simple moving average is $139.65. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $55.01 billion, a PE ratio of 11.27, a PEG ratio of 5.68 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period last year, the business posted $3.87 EPS. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Phillips 66 will post 7.81 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.50%. Phillips 66’s payout ratio is presently 39.45%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Morgan Stanley reduced their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Raymond James increased their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Mizuho cut their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Wolfe Research initiated coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Scotiabank cut their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $149.50.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.22% of the stock is currently owned by company insiders.

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.