TD Asset Management Inc. increased its stake in shares of Phillips 66 (NYSE:PSX) by 4.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 276,854 shares of the oil and gas company’s stock after acquiring an additional 12,128 shares during the period. TD Asset Management Inc.’s holdings in Phillips 66 were worth $31,207,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Acropolis Investment Management LLC bought a new stake in Phillips 66 in the second quarter valued at approximately $106,000. Capital Advisors Ltd. LLC raised its stake in Phillips 66 by 152.4% in the third quarter. Capital Advisors Ltd. LLC now owns 944 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 570 shares during the period. Tuttle Tactical Management bought a new stake in Phillips 66 in the second quarter valued at approximately $107,000. Baker Ellis Asset Management LLC bought a new stake in Phillips 66 in the second quarter valued at approximately $111,000. Finally, Kaizen Advisory LLC raised its stake in Phillips 66 by 144.3% in the second quarter. Kaizen Advisory LLC now owns 1,004 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 593 shares during the period. Institutional investors and hedge funds own 70.10% of the company’s stock.
Phillips 66 stock opened at $99.74 on Friday. Phillips 66 has a 12 month low of $89.14 and a 12 month high of $123.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 1.28. The company has a market capitalization of $47.55 billion, a PE ratio of 22.77, a PEG ratio of 1.41 and a beta of 0.99.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, October 26th. The oil and gas company reported $3.10 EPS for the quarter, beating the consensus estimate of $2.50 by $0.60. Phillips 66 had a return on equity of 14.97% and a net margin of 5.72%. The company had revenue of $30.59 billion for the quarter, compared to the consensus estimate of $28.50 billion. During the same quarter in the prior year, the business earned $1.66 earnings per share. On average, analysts anticipate that Phillips 66 will post 8.61 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 19th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Friday, November 16th. Phillips 66’s payout ratio is 73.06%.
PSX has been the topic of several research analyst reports. Morgan Stanley upped their price objective on Phillips 66 from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, July 16th. Zacks Investment Research upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $137.00 price objective on the stock in a research note on Wednesday, August 1st. Mizuho initiated coverage on Phillips 66 in a research note on Wednesday, August 1st. They issued a “neutral” rating and a $124.00 price objective on the stock. Citigroup upped their price objective on Phillips 66 from $124.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday, August 15th. Finally, ValuEngine lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $121.79.
About Phillips 66
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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