Phillips 66 (NYSE:PSX) Stake Reduced by Toronto Dominion Bank

Toronto Dominion Bank reduced its stake in shares of Phillips 66 (NYSE:PSX) by 0.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 245,637 shares of the oil and gas company’s stock after selling 210 shares during the quarter. Toronto Dominion Bank’s holdings in Phillips 66 were worth $40,122,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 during the first quarter valued at $25,000. Keener Financial Planning LLC acquired a new stake in Phillips 66 in the 1st quarter valued at $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 in the 4th quarter valued at $27,000. Redmont Wealth Advisors LLC acquired a new stake in Phillips 66 in the 1st quarter valued at $28,000. Finally, First United Bank & Trust bought a new position in Phillips 66 in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of recent research reports. Barclays dropped their target price on Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Raymond James decreased their price objective on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Wells Fargo & Company lifted their price objective on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. TD Cowen decreased their price objective on Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, June 21st. Finally, JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.23.

Phillips 66 Stock Down 0.2 %

PSX traded down $0.30 on Friday, hitting $142.21. 1,813,562 shares of the company were exchanged, compared to its average volume of 2,670,473. Phillips 66 has a 12 month low of $107.41 and a 12 month high of $174.08. The company has a market cap of $60.29 billion, a PE ratio of 10.94, a PEG ratio of 2.29 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The stock’s fifty day moving average is $139.14 and its 200-day moving average is $145.39.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter in the prior year, the company earned $4.21 EPS. Equities research analysts predict that Phillips 66 will post 10.06 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Tuesday, August 20th. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Buying and Selling at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.22% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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 petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.