DRW Securities LLC Buys 14,543 Shares of Phillips 66 (NYSE:PSX)

DRW Securities LLC grew its stake in shares of Phillips 66 (NYSE:PSX) by 998.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 16,000 shares of the oil and gas company’s stock after acquiring an additional 14,543 shares during the period. DRW Securities LLC’s holdings in Phillips 66 were worth $2,277,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSX. Gryphon Financial Partners LLC boosted its holdings in Phillips 66 by 11.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 4,166 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 426 shares during the period. TrinityPoint Wealth LLC grew its holdings in shares of Phillips 66 by 14.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 5,170 shares of the oil and gas company’s stock worth $688,000 after purchasing an additional 672 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Phillips 66 by 55.1% in the fourth quarter. Clearbridge Investments LLC now owns 33,625 shares of the oil and gas company’s stock worth $4,477,000 after purchasing an additional 11,945 shares during the last quarter. Assetmark Inc. raised its stake in Phillips 66 by 792.6% in the fourth quarter. Assetmark Inc. now owns 1,455 shares of the oil and gas company’s stock valued at $194,000 after purchasing an additional 1,292 shares in the last quarter. Finally, US Bancorp DE lifted its position in Phillips 66 by 0.4% during the fourth quarter. US Bancorp DE now owns 263,400 shares of the oil and gas company’s stock valued at $35,070,000 after purchasing an additional 1,017 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $129.97 on Friday. The company’s fifty day simple moving average is $135.20 and its two-hundred day simple moving average is $143.67. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The firm has a market cap of $55.10 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 4.67 and a beta of 1.33. 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 (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, beating analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.87 EPS. As a group, equities analysts expect that Phillips 66 will post 9.1 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.54%. Phillips 66’s dividend payout ratio is presently 35.38%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PSX shares. Barclays raised their price objective on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Wells Fargo & Company lifted their price target on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Raymond James increased their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their target price on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Finally, Morgan Stanley reduced their price target 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. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $154.21.

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.