Phillips 66 $PSX Shares Acquired by TD Asset Management Inc

TD Asset Management Inc increased its position in shares of Phillips 66 (NYSE:PSX) by 15.5% in the third quarter, HoldingsChannel reports. The firm owned 174,413 shares of the oil and gas company’s stock after acquiring an additional 23,364 shares during the quarter. TD Asset Management Inc’s holdings in Phillips 66 were worth $23,724,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Heck Capital Advisors LLC lifted its stake in Phillips 66 by 1.2% during the 3rd quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company’s stock valued at $833,000 after acquiring an additional 75 shares during the period. Portside Wealth Group LLC raised its holdings in shares of Phillips 66 by 3.8% during the third quarter. Portside Wealth Group LLC now owns 2,033 shares of the oil and gas company’s stock worth $277,000 after purchasing an additional 75 shares during the last quarter. Welch & Forbes LLC lifted its position in Phillips 66 by 1.1% during the third quarter. Welch & Forbes LLC now owns 7,123 shares of the oil and gas company’s stock valued at $969,000 after purchasing an additional 76 shares during the period. Magnus Financial Group LLC boosted its holdings in Phillips 66 by 2.5% in the third quarter. Magnus Financial Group LLC now owns 3,160 shares of the oil and gas company’s stock valued at $430,000 after purchasing an additional 77 shares during the last quarter. Finally, Hemington Wealth Management grew its position in Phillips 66 by 15.7% during the 3rd quarter. Hemington Wealth Management now owns 576 shares of the oil and gas company’s stock worth $78,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In related news, EVP Brian Mandell sold 25,500 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $140.04, for a total value of $3,571,020.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares of the company’s stock, valued at approximately $7,959,593.52. This represents a 30.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the transaction, the executive vice president owned 25,799 shares in the company, valued at $3,869,850. The trade was a 14.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 41,788 shares of company stock valued at $6,067,250 over the last quarter. 0.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wolfe Research boosted their price objective on Phillips 66 from $159.00 to $164.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Argus boosted their price target on Phillips 66 from $152.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Jefferies Financial Group restated a “hold” rating and issued a $158.00 price objective on shares of Phillips 66 in a research report on Friday, February 20th. Weiss Ratings raised shares of Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Finally, Wells Fargo & Company raised their price target on shares of Phillips 66 from $162.00 to $163.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $160.11.

Phillips 66 Price Performance

Phillips 66 stock opened at $153.91 on Friday. The stock has a market capitalization of $61.68 billion, a P/E ratio of 14.22, a P/E/G ratio of 0.54 and a beta of 0.90. The company’s fifty day moving average price is $144.05 and its 200 day moving average price is $137.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.87 and a current ratio of 1.30. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $163.79.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.32. The business had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same period last year, the firm posted ($0.15) earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be paid a dividend of $1.27 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date is Monday, February 23rd. This represents a $5.08 annualized dividend and a yield of 3.3%. Phillips 66’s dividend payout ratio (DPR) is presently 46.95%.

Phillips 66 Company 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.