TD Asset Management Inc grew its stake in shares of Phillips 66 (NYSE:PSX – Free Report) by 87.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 326,317 shares of the oil and gas company’s stock after purchasing an additional 151,904 shares during the period. TD Asset Management Inc owned about 0.08% of Phillips 66 worth $42,108,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Phillips 66 by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock valued at $6,701,052,000 after purchasing an additional 205,480 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Phillips 66 by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock valued at $1,338,596,000 after purchasing an additional 45,340 shares during the last quarter. Norges Bank purchased a new stake in shares of Phillips 66 during the fourth quarter valued at $640,206,000. M&T Bank Corp lifted its holdings in shares of Phillips 66 by 462.9% during the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after purchasing an additional 2,243,268 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Phillips 66 by 2.8% during the third quarter. Amundi now owns 2,400,180 shares of the oil and gas company’s stock valued at $319,123,000 after purchasing an additional 65,568 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.
Phillips 66 Stock Down 0.5%
NYSE:PSX opened at $183.30 on Friday. The firm has a market capitalization of $73.49 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 0.27 and a beta of 0.68. Phillips 66 has a 1-year low of $112.95 and a 1-year high of $190.61. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The business’s fifty day moving average price is $172.76 and its 200 day moving average price is $156.17.
Phillips 66 Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66’s dividend payout ratio is presently 50.05%.
Insider Transactions at Phillips 66
In other Phillips 66 news, EVP Brian Mandell sold 42,800 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the transaction, the executive vice president directly owned 61,595 shares of the company’s stock, valued at $10,442,200.35. This represents a 41.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin J. Mitchell sold 29,400 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,553,920. The trade was a 23.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 92,229 shares of company stock valued at $15,990,030. 0.40% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
PSX has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Scotiabank upped their target price on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Jefferies Financial Group upped their price target on Phillips 66 from $173.00 to $191.00 and gave the company a “hold” rating in a research report on Tuesday, May 26th. Morgan Stanley reissued an “overweight” rating and set a $180.00 price target on shares of Phillips 66 in a research report on Thursday, April 30th. Finally, Wall Street Zen lowered Phillips 66 from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $191.28.
Get Our Latest Analysis on Phillips 66
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.
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