TD Asset Management Inc Raises Stock Holdings in Phillips 66 $PSX

TD Asset Management Inc increased its holdings in shares of Phillips 66 (NYSE:PSX) by 15.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 174,413 shares of the oil and gas company’s stock after acquiring an additional 23,364 shares during the period. TD Asset Management Inc’s holdings in Phillips 66 were worth $23,724,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Evolution Wealth Management Inc. purchased a new stake in shares of Phillips 66 during the second quarter valued at $25,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Phillips 66 during the 2nd quarter valued at about $32,000. Winnow Wealth LLC bought a new position in Phillips 66 in the 3rd quarter worth about $36,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Phillips 66 during the second quarter worth approximately $38,000. Finally, Operose Advisors LLC increased its position in shares of Phillips 66 by 260.4% during the second quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 250 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. UBS Group reissued a “buy” rating and issued a $172.00 price objective on shares of Phillips 66 in a research note on Friday, February 6th. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Barclays set a $158.00 price objective on Phillips 66 in a report on Friday, February 20th. Piper Sandler upped their price objective on shares of Phillips 66 from $153.00 to $156.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $158.00 target price on shares of Phillips 66 in a research report on Friday, February 20th. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, Phillips 66 presently has an average rating of “Hold” and an average target price of $160.11.

Phillips 66 Stock Up 1.0%

NYSE:PSX opened at $153.91 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.87 and a current ratio of 1.30. 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 50-day simple moving average is $144.05 and its 200-day simple moving average is $137.27. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $163.79.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.32. The company had revenue of $32.16 billion during 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 earned ($0.15) earnings per share. On average, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $5.08 annualized dividend and a yield of 3.3%. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio is currently 46.95%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,394 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total transaction of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares in the company, valued at approximately $3,869,850. This represents a 14.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brian Mandell sold 25,500 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 41,788 shares of company stock worth $6,067,250. 0.22% of the stock is owned by insiders.

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.