Toronto Dominion Bank Sells 210 Shares of Phillips 66 (NYSE:PSX)

Toronto Dominion Bank lowered its position in Phillips 66 (NYSE:PSX) by 0.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 245,637 shares of the oil and gas company’s stock after selling 210 shares during the period. Toronto Dominion Bank owned 0.06% of Phillips 66 worth $40,122,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PSX. Axxcess Wealth Management LLC grew its position in Phillips 66 by 24.5% during the first quarter. Axxcess Wealth Management LLC now owns 12,203 shares of the oil and gas company’s stock valued at $1,993,000 after buying an additional 2,404 shares during the period. EP Wealth Advisors LLC raised its stake in Phillips 66 by 16.3% in the first quarter. EP Wealth Advisors LLC now owns 8,286 shares of the oil and gas company’s stock valued at $1,353,000 after purchasing an additional 1,162 shares in the last quarter. Freestone Capital Holdings LLC raised its stake in Phillips 66 by 112.3% in the first quarter. Freestone Capital Holdings LLC now owns 7,623 shares of the oil and gas company’s stock valued at $1,245,000 after purchasing an additional 4,033 shares in the last quarter. CreativeOne Wealth LLC grew its position in Phillips 66 by 51.5% during the first quarter. CreativeOne Wealth LLC now owns 3,209 shares of the oil and gas company’s stock valued at $524,000 after acquiring an additional 1,091 shares during the last quarter. Finally, Payden & Rygel Investment Group bought a new position in Phillips 66 during the first quarter valued at approximately $12,169,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated Thursday, May 16th. The shares were 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 of the company’s stock, valued at $7,051,617. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

PSX stock traded down $0.30 during trading on Friday, hitting $142.21. The stock had a trading volume of 1,813,562 shares, compared to its average volume of 2,670,473. The stock has a market capitalization of $60.29 billion, a P/E ratio of 10.94, a PEG ratio of 2.29 and a beta of 1.34. The company’s 50-day moving average price is $139.14 and its two-hundred day moving average price is $145.39. Phillips 66 has a twelve month low of $107.41 and a twelve month high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82.

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

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.23%. Phillips 66’s payout ratio is 35.38%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Barclays cut their price target on shares of Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Wells Fargo & Company raised their price objective on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Finally, TD Cowen lowered their price objective on Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.23.

Phillips 66 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.