TD Waterhouse Canada Inc. Grows Stock Position in Phillips 66 $PSX

TD Waterhouse Canada Inc. grew its position in shares of Phillips 66 (NYSE:PSX) by 13.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,534 shares of the oil and gas company’s stock after purchasing an additional 6,656 shares during the period. TD Waterhouse Canada Inc.’s holdings in Phillips 66 were worth $6,712,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Elliott Investment Management L.P. increased its holdings in Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after purchasing an additional 14,950,000 shares during the last quarter. Chronos Wealth Management LLC purchased a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $281,000. Sustainable Insight Capital Management LLC purchased a new position in shares of Phillips 66 during the 1st quarter valued at approximately $1,457,000. Evergreen Wealth Solutions LLC acquired a new stake in shares of Phillips 66 during the first quarter worth approximately $292,000. Finally, Jump Financial LLC increased its stake in shares of Phillips 66 by 307.1% in the first quarter. Jump Financial LLC now owns 11,276 shares of the oil and gas company’s stock worth $1,392,000 after buying an additional 8,506 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the sale, the chief financial officer owned 89,771 shares of the company’s stock, valued at $12,388,398. This trade represents a 25.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the completion of the sale, the executive vice president owned 56,838 shares in the company, valued at approximately $7,825,455.84. This represents a 31.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 64,986 shares of company stock valued at $8,955,291 over the last three months. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PSX. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Raymond James Financial restated an “outperform” rating and issued a $150.00 target price (up previously from $145.00) on shares of Phillips 66 in a research note on Friday, October 17th. Cowen reiterated a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. Piper Sandler boosted their price objective on Phillips 66 from $159.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, November 14th. Finally, Bank of America cut Phillips 66 from a “buy” rating to a “neutral” rating and upped their price objective for the company from $144.00 to $147.00 in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Hold” and a consensus price target of $145.71.

Phillips 66 Price Performance

PSX opened at $132.08 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $134.27 and its 200 day moving average price is $126.74. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $143.25. The firm has a market cap of $53.22 billion, a price-to-earnings ratio of 36.09, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same period in the prior year, the company earned $2.04 earnings per share. As a group, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.6%. Phillips 66’s dividend payout ratio (DPR) is currently 131.15%.

Phillips 66 Company 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.