TD Private Client Wealth LLC Decreases Position in Phillips 66 $PSX

Key Points

• TD Private Client Wealth LLC reduced its stake in Phillips 66 by 9.2% in Q2, now holding 22,389 shares valued at approximately $2.67 million.
• Insiders have recently purchased a total of 9,850 shares of Phillips 66 stock, indicating confidence in the company's performance.
• Analysts have raised their price targets for Phillips 66, with a consensus target of $139.38, reflecting a generally positive outlook on the stock.

TD Private Client Wealth LLC trimmed its stake in Phillips 66 (NYSE:PSX - Free Report) by 9.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,389 shares of the oil and gas company's stock after selling 2,275 shares during the period. TD Private Client Wealth LLC's holdings in Phillips 66 were worth $2,671,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSX. WealthTrust Axiom LLC increased its position in shares of Phillips 66 by 1.1% during the first quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company's stock worth $894,000 after purchasing an additional 81 shares in the last quarter. Biltmore Wealth Management LLC grew its stake in Phillips 66 by 2.4% during the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company's stock worth $431,000 after buying an additional 85 shares during the last quarter. CWC Advisors LLC. increased its position in Phillips 66 by 1.0% during the fourth quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock worth $1,110,000 after buying an additional 92 shares during the period. Legacy Private Trust Co. lifted its stake in Phillips 66 by 3.3% in the second quarter. Legacy Private Trust Co. now owns 3,007 shares of the oil and gas company's stock valued at $359,000 after buying an additional 95 shares during the last quarter. Finally, Hager Investment Management Services LLC boosted its holdings in shares of Phillips 66 by 7.2% in the first quarter. Hager Investment Management Services LLC now owns 1,438 shares of the oil and gas company's stock valued at $178,000 after acquiring an additional 96 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Phillips 66

In other news, Director Sigmund L. Cornelius bought 500 shares of the stock in a transaction on Thursday, July 31st. The shares were bought at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the acquisition, the director owned 21,543 shares of the company's stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory Hayes purchased 8,350 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was purchased at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the transaction, the director owned 29,423 shares of the company's stock, valued at approximately $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 9,850 shares of company stock valued at $1,188,910 in the last three months. 0.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Jefferies Financial Group lifted their target price on shares of Phillips 66 from $130.00 to $133.00 and gave the company a "hold" rating in a report on Monday, September 15th. Evercore ISI lifted their price objective on shares of Phillips 66 from $130.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. Raymond James Financial increased their target price on shares of Phillips 66 from $142.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 9th. Morgan Stanley raised their price target on Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research note on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Phillips 66 has a consensus rating of "Moderate Buy" and a consensus price target of $139.38.

Phillips 66 Stock Up 3.2%

Shares of NYSE PSX opened at $136.50 on Thursday. The stock has a market capitalization of $55.16 billion, a price-to-earnings ratio of 32.81, a price-to-earnings-growth ratio of 1.88 and a beta of 1.15. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $140.60. The firm has a 50-day moving average price of $127.39 and a 200 day moving average price of $119.98. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. During the same period in the prior year, the business posted $2.31 earnings per share. Equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 3.5%. Phillips 66's payout ratio is currently 115.38%.

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.

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