Arvest Bank Trust Division Acquires Shares of 7,666 Phillips 66 (NYSE:PSX)

Arvest Bank Trust Division bought a new stake in Phillips 66 (NYSE:PSX - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,666 shares of the oil and gas company's stock, valued at approximately $1,008,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PSX. ORG Partners LLC acquired a new position in Phillips 66 in the second quarter worth about $194,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in Phillips 66 by 74.2% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,287 shares of the oil and gas company's stock valued at $459,000 after purchasing an additional 1,400 shares during the last quarter. Silver Lake Advisory LLC acquired a new stake in shares of Phillips 66 during the second quarter worth $280,000. Valley National Advisers Inc. raised its holdings in Phillips 66 by 18.9% during the 2nd quarter. Valley National Advisers Inc. now owns 1,105 shares of the oil and gas company's stock worth $155,000 after buying an additional 176 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Phillips 66 by 273.6% during the second quarter. Assenagon Asset Management S.A. now owns 423,049 shares of the oil and gas company's stock valued at $59,722,000 after acquiring an additional 309,816 shares during the period. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Stock Down 1.1 %

PSX stock traded down $1.34 during trading hours on Thursday, reaching $123.99. 2,614,140 shares of the stock were exchanged, compared to its average volume of 2,661,443. The firm's 50-day moving average is $130.48 and its 200-day moving average is $134.12. Phillips 66 has a 12 month low of $119.77 and a 12 month high of $174.08. The company has a market cap of $51.21 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 4.24 and a beta of 1.35. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the previous year, the firm posted $4.63 earnings per share. The firm's revenue for the quarter was down 10.3% on a year-over-year basis. On average, equities research analysts expect that Phillips 66 will post 7.59 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a $1.15 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.71%. Phillips 66's dividend payout ratio is 59.05%.

Analysts Set New Price Targets

PSX has been the subject of several research analyst reports. Scotiabank reduced their price objective on Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Mizuho decreased 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. UBS Group dropped their price target on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Barclays reduced their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating for the company in a research note on Monday, November 11th. Finally, Morgan Stanley lowered their target price on shares of Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $149.23.

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.