Simmons Bank Purchases 2,426 Shares of Phillips 66 (NYSE:PSX)

Simmons Bank grew its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,808 shares of the oil and gas company's stock after acquiring an additional 2,426 shares during the quarter. Simmons Bank's holdings in Phillips 66 were worth $8,637,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC lifted its holdings in Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 120 shares during the period. Stephens Consulting LLC lifted its holdings in Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 111 shares during the period. Human Investing LLC acquired a new stake in Phillips 66 in the fourth quarter worth about $30,000. Webster Bank N. A. lifted its holdings in Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 88 shares during the period. Finally, YANKCOM Partnership acquired a new stake in Phillips 66 in the fourth quarter worth about $31,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PSX. Piper Sandler cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Barclays dropped their price target on shares of Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. 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 report on Monday, November 4th. Finally, Mizuho dropped their price target on shares of Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of "Moderate Buy" and a consensus price target of $148.00.

Phillips 66 Trading Up 1.9 %

NYSE PSX traded up $2.40 on Friday, hitting $129.81. 5,739,901 shares of the company were exchanged, compared to its average volume of 3,654,164. The firm has a market capitalization of $52.92 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company's 50 day moving average price is $120.60 and its 200-day moving average price is $126.86.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates 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 period last year, the company posted $3.09 earnings per share. Analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

About Phillips 66

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.