Tidal Investments LLC Increases Stock Holdings in Phillips 66 (NYSE:PSX)

Tidal Investments LLC lifted its stake in shares of Phillips 66 (NYSE:PSX) by 11.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 21,523 shares of the oil and gas company’s stock after buying an additional 2,274 shares during the quarter. Tidal Investments LLC’s holdings in Phillips 66 were worth $2,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Phillips 66 Trading Down 1.0 %

Shares of Phillips 66 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 current ratio of 1.21 and a quick ratio of 0.83. The business has a 50 day moving average price of $129.86 and a 200 day moving average price of $133.81. The company has a market capitalization of $50.68 billion, a P/E ratio of 15.75, a P/E/G ratio of 4.06 and a beta of 1.35.

Phillips 66 (NYSE:PSX) last released its quarterly 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. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.63 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 7.56 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

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

Wall Street Analyst Weigh In

PSX has been the subject of several recent analyst reports. UBS Group reduced their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Morgan Stanley lowered their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Finally, Mizuho lowered their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.