Jefferies Financial Group Inc. Purchases Shares of 36,458 Phillips 66 $PSX

Key Points

• Jefferies Financial Group bought a new stake in Phillips 66 during the fourth quarter, acquiring 36,458 shares valued at about $4.7 million.
• Phillips 66 reported better-than-expected quarterly earnings, posting EPS of $0.49 versus analysts’ estimate of a loss, though revenue of $32.54 billion came in below expectations.
• The company announced a quarterly dividend of $1.27 per share, which works out to an annualized yield of about 2.9%.

Jefferies Financial Group Inc. acquired a new stake in Phillips 66 (NYSE:PSX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 36,458 shares of the oil and gas company's stock, valued at approximately $4,705,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Board of the Pension Protection Fund acquired a new position in Phillips 66 in the 4th quarter worth approximately $26,000. Accordant Advisory Group Inc lifted its stake in shares of Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock valued at $26,000 after purchasing an additional 180 shares during the period. Eagle Bay Advisors LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $27,000. Stephens Consulting LLC lifted its stake in shares of Phillips 66 by 67.7% in the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock valued at $29,000 after purchasing an additional 90 shares during the period. Finally, Dorato Capital Management acquired a new stake in Phillips 66 in the 4th quarter valued at $35,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 600 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,705,826.56. The trade was a 0.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin Omar Meyers purchased 175 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director directly owned 16,799 shares of the company's stock, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 114,029 shares of company stock worth $19,641,455 in the last three months. Corporate insiders own 0.40% of the company's stock.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $178.03 on Tuesday. The business has a 50-day simple moving average of $172.20 and a 200-day simple moving average of $153.71. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market cap of $71.38 billion, a PE ratio of 17.54, a P/E/G ratio of 0.26 and a beta of 0.70. Phillips 66 has a one year low of $111.19 and a one year high of $190.61.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.90) earnings per share. On average, equities research analysts forecast that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a $1.27 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. Phillips 66's payout ratio is currently 50.05%.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research reports. Wolfe Research boosted their target price on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. Morgan Stanley reiterated an "overweight" rating and set a $180.00 price target on shares of Phillips 66 in a report on Thursday, April 30th. The Goldman Sachs Group lifted their price target on Phillips 66 from $192.00 to $207.00 and gave the stock a "neutral" rating in a report on Tuesday, May 19th. Zacks Research upgraded shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Finally, TD Cowen boosted their price objective on shares of Phillips 66 from $155.00 to $213.00 and gave the company a "buy" rating in a report on Wednesday, April 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of "Moderate Buy" and an average target price of $187.11.

Phillips 66 Profile

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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