TD Asset Management Inc Has $42.11 Million Stake in Phillips 66 $PSX

TD Asset Management Inc increased its stake in shares of Phillips 66 (NYSE:PSX) by 87.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 326,317 shares of the oil and gas company’s stock after acquiring an additional 151,904 shares during the period. TD Asset Management Inc’s holdings in Phillips 66 were worth $42,108,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PSX. Brighton Jones LLC increased its holdings in shares of Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Phillips 66 by 40.7% during the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after acquiring an additional 10,089 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Phillips 66 by 28.3% during the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock valued at $18,788,000 after acquiring an additional 34,698 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Phillips 66 by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock valued at $41,359,000 after acquiring an additional 28,988 shares during the last quarter. Finally, Glenview Trust co increased its holdings in shares of Phillips 66 by 2.6% during the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock valued at $1,068,000 after acquiring an additional 229 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $183.30 on Friday. The business has a 50 day moving average price of $172.76 and a 200 day moving average price of $156.17. Phillips 66 has a twelve month low of $112.95 and a twelve month high of $190.61. The company has a market cap of $73.49 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 0.27 and a beta of 0.68. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter in the prior year, the company earned ($0.90) EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts predict that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were paid a dividend of $1.27 per share. The ex-dividend date was Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.8%. Phillips 66’s dividend payout ratio is presently 50.05%.

Insiders Place Their Bets

In related news, Director Lisa Ann Davis sold 3,800 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the completion of the sale, the director owned 8,701 shares in the company, valued at $1,517,193.37. This represents a 30.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin J. Mitchell sold 600 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $171.56, for a total value of $102,936.00. Following the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. The trade was a 0.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 92,229 shares of company stock worth $15,990,030 in the last 90 days. 0.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on PSX. Weiss Ratings lowered Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. The Goldman Sachs Group increased their price objective on Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Tuesday, May 19th. Guggenheim raised Phillips 66 to an “outperform” rating in a report on Wednesday, May 27th. Morgan Stanley reissued an “overweight” rating and set a $180.00 price objective on shares of Phillips 66 in a report on Thursday, April 30th. Finally, Tudor Pickering raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.28.

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.