CTC Alternative Strategies Ltd. Makes New $206,000 Investment in Phillips 66 (NYSE:PSX)

CTC Alternative Strategies Ltd. bought a new position in Phillips 66 (NYSE:PSX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,812 shares of the oil and gas company’s stock, valued at approximately $206,000.

A number of other hedge funds have also bought and sold shares of PSX. Price T Rowe Associates Inc. MD raised its position in Phillips 66 by 283.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after buying an additional 4,455,220 shares during the last quarter. Norges Bank purchased a new position in Phillips 66 in the 4th quarter worth about $497,648,000. Raymond James Financial Inc. purchased a new position in Phillips 66 in the 4th quarter worth about $168,790,000. Capitolis Liquid Global Markets LLC purchased a new position in Phillips 66 in the 4th quarter worth about $142,185,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Phillips 66 by 157.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company’s stock valued at $175,593,000 after purchasing an additional 942,922 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.1%

Shares of NYSE:PSX opened at $113.13 on Friday. The stock has a 50 day moving average of $110.60 and a 200 day moving average of $119.07. The company has a market cap of $46.09 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. 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 has a 12-month low of $91.01 and a 12-month high of $150.12.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the firm posted $1.90 earnings per share. As a group, equities research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $1.20 dividend. The ex-dividend date is Monday, May 19th. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 4.24%. Phillips 66’s payout ratio is currently 109.34%.

Wall Street Analyst Weigh In

PSX has been the subject of a number of recent research reports. Barclays boosted their price target on Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Raymond James cut their price target on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. TD Cowen boosted their price target on Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Finally, Scotiabank cut their price target on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $137.86.

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.