Tidal Investments LLC Purchases 11,136 Shares of Phillips 66 $PSX

Tidal Investments LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 51.7% during the second quarter, Holdings Channel reports. The institutional investor owned 32,674 shares of the oil and gas company’s stock after purchasing an additional 11,136 shares during the period. Tidal Investments LLC’s holdings in Phillips 66 were worth $5,524,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PSX. NFSG Corp increased its stake in Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after buying an additional 75 shares in the last quarter. Axiom Investment Management LLC purchased a new position in shares of Phillips 66 in the first quarter valued at about $27,000. SWAN Capital LLC boosted its stake in shares of Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 190 shares during the period. Compass Financial Management LLC bought a new position in shares of Phillips 66 in the second quarter worth about $28,000. Finally, Kelleher Financial Advisors purchased a new stake in shares of Phillips 66 during the second quarter worth about $29,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PSX shares. Citigroup reissued a “neutral” rating on shares of Phillips 66 in a research note on Thursday, August 6th. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, September 7th. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $239.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Jefferies Financial Group boosted their target price on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a report on Thursday, July 9th. Finally, TD Cowen upped their target price on shares of Phillips 66 from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $222.76.

Insider Buying and Selling at Phillips 66

In related news, EVP Vanessa Sutherland sold 3,523 shares of the firm’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the transaction, the executive vice president directly owned 27,537 shares of the company’s stock, valued at approximately $5,811,683.85. This trade represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin Mitchell sold 11,021 shares of the business’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at $18,504,361.28. This represents a 10.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is owned by company insiders.

Phillips 66 Price Performance

NYSE:PSX opened at $259.66 on Monday. The business’s 50-day moving average is $222.85 and its 200 day moving average is $189.68. Phillips 66 has a 12 month low of $126.74 and a 12 month high of $265.43. The company has a market capitalization of $103.61 billion, a P/E ratio of 14.80 and a beta of 0.71. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, beating the consensus estimate of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The business had revenue of $52.04 billion during the quarter, compared to analysts’ expectations of $43.60 billion. During the same quarter last year, the business posted $2.38 EPS. On average, equities research analysts forecast that Phillips 66 will post 24.47 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, August 18th. Phillips 66’s dividend payout ratio is currently 28.95%.

Phillips 66 declared that its Board of Directors has approved a share buyback plan on Friday, July 31st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the oil and gas company to buy up to 11.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an energy company that operates across the midstream, chemicals, refining and marketing sectors. Headquartered in Houston, Texas, the company was established in 2012 when ConocoPhillips separated its downstream businesses into an independent company.

The company’s midstream operations include transportation, processing, storage and other infrastructure for crude oil, natural gas and natural gas liquids. Phillips 66 also owns and operates refineries that process crude oil into transportation fuels, lubricants, specialty products and other refined petroleum products.

Phillips 66 markets gasoline, diesel and other fuels under the Phillips 66, Conoco and 76 brands, primarily in the United States.