DRW Securities LLC Grows Stock Position in Phillips 66 $PSX

Key Points

• DRW Securities LLC increased its holdings in Phillips 66 by 354.0% in the first quarter, acquiring an additional 6,821 shares to reach a total of 8,748 shares valued at over $1 million.
• The company also announced a quarterly dividend of $1.20 per share, with an annualized dividend yield of 3.6%, set to be paid on September 2nd.
• Analysts predict Phillips 66 will report 6.8 EPS for the current year, while several brokers revised their price target for the stock, with an average target of $136.20.

DRW Securities LLC boosted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 354.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,748 shares of the oil and gas company's stock after acquiring an additional 6,821 shares during the quarter. DRW Securities LLC's holdings in Phillips 66 were worth $1,079,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PSX. Brighton Jones LLC raised its position in Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock valued at $1,166,000 after acquiring an additional 7,214 shares in the last quarter. AQR Capital Management LLC raised its position in Phillips 66 by 38.0% during the fourth quarter. AQR Capital Management LLC now owns 121,989 shares of the oil and gas company's stock valued at $13,827,000 after acquiring an additional 33,591 shares in the last quarter. AXA S.A. boosted its position in Phillips 66 by 47.0% during the fourth quarter. AXA S.A. now owns 78,146 shares of the oil and gas company's stock worth $8,903,000 after purchasing an additional 24,983 shares in the last quarter. Aptus Capital Advisors LLC boosted its position in Phillips 66 by 239.1% during the fourth quarter. Aptus Capital Advisors LLC now owns 25,729 shares of the oil and gas company's stock worth $2,931,000 after purchasing an additional 18,142 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its position in Phillips 66 by 33.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 488,537 shares of the oil and gas company's stock worth $55,659,000 after purchasing an additional 123,644 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

NYSE:PSX traded down $0.14 during trading hours on Friday, hitting $131.44. 1,828,526 shares of the stock were exchanged, compared to its average volume of 1,927,008. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $140.60. The firm's fifty day moving average price is $126.26 and its 200 day moving average price is $119.50. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company has a market cap of $53.12 billion, a P/E ratio of 31.60, a P/E/G ratio of 2.05 and a beta of 1.15.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The company had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period in the previous year, the business earned $2.31 EPS. As a group, equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is 115.38%.

Insiders Place Their Bets

In other Phillips 66 news, Director Gregory Hayes bought 8,350 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were acquired at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the purchase, the director directly owned 29,423 shares of the company's stock, valued at $3,527,817.70. This trade represents a 39.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sigmund L. Cornelius bought 500 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was acquired at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the purchase, the director directly owned 21,543 shares in the company, valued at approximately $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PSX shares. Piper Sandler reiterated a "neutral" rating and set a $145.00 price target (up previously from $144.00) on shares of Phillips 66 in a research report on Monday, August 4th. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a research report on Wednesday, June 18th. Wells Fargo & Company lowered their price target on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. Compass Point started coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a "buy" rating on the stock. Finally, Scotiabank reiterated a "sector perform" rating and set a $133.00 price target on shares of Phillips 66 in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $135.60.

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.