Oakworth Capital Inc. Has $172,000 Stock Holdings in Phillips 66 (NYSE:PSX)

Oakworth Capital Inc. grew its position in shares of Phillips 66 (NYSE:PSX) by 52.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,216 shares of the oil and gas company’s stock after buying an additional 420 shares during the quarter. Oakworth Capital Inc.’s holdings in Phillips 66 were worth $172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in PSX. Crewe Advisors LLC bought a new position in Phillips 66 in the 1st quarter worth $25,000. Keener Financial Planning LLC bought a new position in shares of Phillips 66 during the first quarter valued at $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 during the fourth quarter worth approximately $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at $28,000. Finally, First United Bank & Trust acquired a new position in Phillips 66 during the 4th quarter worth $31,000. 76.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on PSX. Mizuho reduced their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Wolfe Research assumed coverage on Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank cut their price objective on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company cut their price target on Phillips 66 from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $157.38.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded up $0.24 during trading on Friday, hitting $138.92. 1,644,456 shares of the stock traded hands, compared to its average volume of 2,320,798. The stock has a market cap of $58.15 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 2.41 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The firm’s fifty day moving average is $138.18 and its 200-day moving average is $145.95.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.87 EPS. Research analysts expect that Phillips 66 will post 9.53 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

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.