Tidal Investments LLC Boosts Stock Position in Phillips 66 (NYSE:PSX)

Tidal Investments LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 11.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,523 shares of the oil and gas company’s stock after acquiring an additional 2,274 shares during the period. Tidal Investments LLC’s holdings in Phillips 66 were worth $2,829,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new stake in shares of Phillips 66 during the second quarter worth about $26,000. nVerses Capital LLC acquired a new stake in Phillips 66 during the 3rd quarter worth approximately $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 during the 3rd quarter worth approximately $30,000. Kings Path Partners LLC purchased a new position in Phillips 66 in the 2nd quarter valued at approximately $38,000. Finally, Industrial Alliance Investment Management Inc. acquired a new position in shares of Phillips 66 in the second quarter worth $40,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of PSX stock opened at $122.72 on Monday. Phillips 66 has a 1 year low of $119.77 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm has a market cap of $50.68 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 4.06 and a beta of 1.35. The stock’s 50-day moving average is $129.86 and its two-hundred day moving average is $133.81.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.63 earnings per share. Analysts predict that Phillips 66 will post 7.56 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a $1.15 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.75%. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PSX. Scotiabank reduced their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. UBS Group decreased their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. TD Cowen cut their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Barclays reduced their target price on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $149.23.

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.