Toronto Dominion Bank Reduces Stock Position in Phillips 66 (NYSE:PSX)

Toronto Dominion Bank lessened its position in Phillips 66 (NYSE:PSX - Free Report) by 22.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. NewEdge Wealth LLC raised its position in Phillips 66 by 0.5% during the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock valued at $1,732,000 after purchasing an additional 81 shares during the last quarter. JBR Co Financial Management Inc increased its stake in shares of Phillips 66 by 0.9% during the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock valued at $1,085,000 after buying an additional 85 shares during the period. Nwam LLC lifted its stake in Phillips 66 by 2.2% in the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock worth $442,000 after acquiring an additional 85 shares during the period. Webster Bank N. A. lifted its stake in Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock worth $31,000 after acquiring an additional 88 shares during the period. Finally, PFG Private Wealth Management LLC boosted its holdings in Phillips 66 by 7.7% in the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock valued at $140,000 after acquiring an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Wall Street Analyst Weigh In

PSX has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Mizuho raised their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. cut their price objective on Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 29th. Finally, The Goldman Sachs Group lowered Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a research report on Thursday, March 27th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average price target of $137.86.

Phillips 66 Stock Down 3.0%

Shares of PSX stock opened at $121.97 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The stock has a market cap of $49.70 billion, a P/E ratio of 24.69, a P/E/G ratio of 4.84 and a beta of 1.01. The company has a 50 day simple moving average of $111.57 and a two-hundred day simple moving average of $119.22.

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

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $1.20 per share. This is a boost from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66's payout ratio is presently 109.34%.

About Phillips 66

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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