Toronto Dominion Bank Sells 47,278 Shares of Phillips 66 (NYSE:PSX)

Toronto Dominion Bank trimmed its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 22.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 160,250 shares of the oil and gas company's stock after selling 47,278 shares during the period. Toronto Dominion Bank's holdings in Phillips 66 were worth $18,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Tallon Kerry Patrick acquired a new position in shares of Phillips 66 in the 4th quarter valued at $336,000. Brighton Jones LLC boosted its stake in shares of Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock valued at $1,166,000 after buying an additional 7,214 shares in the last quarter. First Citizens Bank & Trust Co. increased its holdings in shares of Phillips 66 by 16.9% in the 4th quarter. First Citizens Bank & Trust Co. now owns 3,613 shares of the oil and gas company's stock valued at $412,000 after purchasing an additional 522 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Phillips 66 by 14.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,665 shares of the oil and gas company's stock valued at $418,000 after buying an additional 473 shares in the last quarter. Finally, PFG Investments LLC grew its holdings in shares of Phillips 66 by 5.2% in the 4th quarter. PFG Investments LLC now owns 15,304 shares of the oil and gas company's stock worth $1,744,000 after acquiring an additional 763 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PSX shares. Raymond James reduced their price objective on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. TD Cowen lifted their price target on shares of Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Tudor Pickering downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. decreased their price target on shares of Phillips 66 from $138.00 to $131.00 and set an "overweight" rating for the company in a research report on Tuesday, April 29th. Finally, Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $135.62.

Insiders Place Their Bets

In related news, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director now directly owns 4,091 shares of the company's stock, valued at approximately $465,760.35. The trade was a 12.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.22% of the company's stock.

Phillips 66 Stock Down 1.2%

Shares of NYSE:PSX traded down $1.37 during midday trading on Friday, reaching $113.31. 4,559,842 shares of the company were exchanged, compared to its average volume of 3,013,715. The firm has a market cap of $46.17 billion, a PE ratio of 22.94, a P/E/G ratio of 4.84 and a beta of 1.01. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The stock has a fifty day simple moving average of $109.26 and a two-hundred day simple moving average of $118.51. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The business had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. During the same quarter last year, the company posted $1.90 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.20 per share. This is an increase from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66's dividend payout ratio is currently 109.34%.

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.