Jump Financial LLC Has $1.39 Million Position in Phillips 66 $PSX

Key Points

• Jump Financial LLC significantly increased its holdings in Phillips 66 by 307.1%, owning 11,276 shares worth approximately $1.39 million post-purchase.
• Phillips 66 recently declared a quarterly dividend of $1.20 per share, representing an annual yield of 3.6%, with a dividend payout ratio currently at 115.38%.
• Wall Street analysts project a Moderate Buy rating for Phillips 66, with an average target price of $136.20, reflecting optimism about the company's financial performance.

Jump Financial LLC grew its position in Phillips 66 (NYSE:PSX - Free Report) by 307.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,276 shares of the oil and gas company's stock after buying an additional 8,506 shares during the quarter. Jump Financial LLC's holdings in Phillips 66 were worth $1,392,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSX. Pacific Center for Financial Services acquired a new position in shares of Phillips 66 in the fourth quarter worth about $27,000. von Borstel & Associates Inc. purchased a new stake in shares of Phillips 66 in the first quarter worth approximately $27,000. Olde Wealth Management LLC purchased a new stake in shares of Phillips 66 in the first quarter worth approximately $28,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Phillips 66 in the fourth quarter worth approximately $29,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the first quarter worth approximately $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Phillips 66 news, Director Sigmund L. Cornelius purchased 500 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were purchased at an average price 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 of the company's stock, valued at approximately $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael A. Heim purchased 1,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were acquired at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the purchase, the director directly owned 12,043 shares of the company's stock, valued at approximately $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 9,850 shares of company stock valued at $1,188,910 in the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded up $0.86 during midday trading on Monday, hitting $133.69. The company had a trading volume of 1,530,714 shares, compared to its average volume of 1,979,315. The business's 50 day simple moving average is $125.03 and its two-hundred day simple moving average is $119.25. The stock has a market cap of $54.03 billion, a PE ratio of 32.14, a P/E/G ratio of 1.81 and a beta of 1.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $140.85.

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

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be paid a $1.20 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Mizuho increased their price target on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. UBS Group raised their price objective on shares of Phillips 66 from $141.00 to $143.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Raymond James Financial set a $142.00 price objective on shares of Phillips 66 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Cantor Fitzgerald began coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set a "neutral" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Phillips 66 presently has an average rating of "Moderate Buy" and a consensus target price of $136.20.

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.