TD Private Client Wealth LLC Has $1.92 Million Stock Position in Phillips 66 $PSX

TD Private Client Wealth LLC lowered its position in Phillips 66 (NYSE:PSX) by 37.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,088 shares of the oil and gas company’s stock after selling 8,301 shares during the quarter. TD Private Client Wealth LLC’s holdings in Phillips 66 were worth $1,916,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PSX. Evolution Wealth Management Inc. acquired a new stake in Phillips 66 in the second quarter valued at approximately $25,000. Wolff Wiese Magana LLC raised its holdings in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Phillips 66 in the second quarter worth $32,000. Twin Peaks Wealth Advisors LLC acquired a new position in Phillips 66 during the second quarter worth $38,000. Finally, Operose Advisors LLC raised its holdings in Phillips 66 by 260.4% during the second quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 250 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSX has been the subject of several recent analyst reports. Citigroup increased their price objective on Phillips 66 from $137.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company upped their target price on Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 18th. Morgan Stanley upped their price objective on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, October 3rd. Finally, Evercore ISI lifted their target price on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $150.00.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the sale, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the company’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $145.00, for a total value of $637,130.00. Following the completion of the transaction, the executive vice president owned 30,193 shares of the company’s stock, valued at $4,377,985. The trade was a 12.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 86,094 shares of company stock valued at $11,955,366 over the last three months. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Trading Up 2.7%

Shares of PSX stock opened at $141.48 on Thursday. The firm has a market capitalization of $57.01 billion, a P/E ratio of 38.66, a price-to-earnings-growth ratio of 0.37 and a beta of 0.90. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $145.68. The firm’s fifty day simple moving average is $136.03 and its 200 day simple moving average is $131.73. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. The company had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. During the same period last year, the business posted $2.04 EPS. As a group, sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.