DRW Securities LLC Sells 14,310 Shares of Phillips 66 (NYSE:PSX)

DRW Securities LLC cut its position in shares of Phillips 66 (NYSE:PSX) by 89.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,690 shares of the oil and gas company’s stock after selling 14,310 shares during the quarter. DRW Securities LLC’s holdings in Phillips 66 were worth $222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at approximately $26,000. Bank & Trust Co bought a new stake in Phillips 66 during the 2nd quarter worth about $31,000. Values First Advisors Inc. acquired a new position in shares of Phillips 66 during the 3rd quarter worth about $30,000. Opal Wealth Advisors LLC bought a new position in shares of Phillips 66 in the 2nd quarter valued at about $34,000. Finally, Fortitude Family Office LLC increased its position in shares of Phillips 66 by 52.3% in the second quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 91 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $133.31 on Thursday. The stock has a 50 day simple moving average of $130.58 and a 200 day simple moving average of $135.07. The stock has a market cap of $55.06 billion, a P/E ratio of 17.11, a PEG ratio of 4.40 and a beta of 1.33. Phillips 66 has a 1-year low of $117.74 and a 1-year high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the firm earned $4.63 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. Research analysts anticipate that Phillips 66 will post 7.57 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Wall Street Analyst Weigh In

Several research analysts recently commented on PSX shares. JPMorgan Chase & Co. reduced their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. TD Cowen decreased their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Barclays dropped their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research report on Thursday, October 17th. Finally, Mizuho dropped their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $149.69.

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.