TD Asset Management Inc. boosted its stake in shares of Phillips 66 (NYSE:PSX) by 8.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 174,898 shares of the oil and gas company’s stock after buying an additional 13,860 shares during the period. TD Asset Management Inc.’s holdings in Phillips 66 were worth $13,855,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. Winch Advisory Services LLC boosted its stake in shares of Phillips 66 by 5,872.7% in the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,292 shares during the last quarter. FTB Advisors Inc. boosted its stake in shares of Phillips 66 by 17.3% in the first quarter. FTB Advisors Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 213 shares during the last quarter. Barrett Asset Management LLC boosted its stake in shares of Phillips 66 by 2.9% in the first quarter. Barrett Asset Management LLC now owns 1,762 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 50 shares during the last quarter. Massmutual Trust Co. FSB ADV purchased a new stake in shares of Phillips 66 during the fourth quarter valued at $158,000. Finally, Blenheim Capital Management BV purchased a new stake in shares of Phillips 66 during the fourth quarter valued at $172,000. 70.01% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

Phillips 66 (NYSE:PSX) opened at 80.94 on Friday. The company has a market capitalization of $41.77 billion, a price-to-earnings ratio of 25.11 and a beta of 1.27. Phillips 66 has a 52 week low of $73.67 and a 52 week high of $88.87. The company has a 50 day moving average of $78.55 and a 200 day moving average of $80.59.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.53. The company had revenue of $23.71 billion for the quarter, compared to analyst estimates of $22.30 billion. Phillips 66 had a return on equity of 5.98% and a net margin of 1.86%. During the same period last year, the company earned $0.67 earnings per share. On average, equities analysts forecast that Phillips 66 will post $4.32 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Thursday, May 18th were paid a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, May 16th. This is a positive change from Phillips 66’s previous quarterly dividend of $0.63. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.46%. Phillips 66’s payout ratio is presently 86.96%.

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Several brokerages have weighed in on PSX. Jefferies Group LLC set a $74.00 price target on shares of Phillips 66 and gave the company a “hold” rating in a research report on Saturday, June 3rd. BidaskClub raised shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. TheStreet cut shares of Phillips 66 from a “b-” rating to a “c” rating in a research report on Monday, June 5th. Citigroup Inc. reissued a “neutral” rating and set a $83.00 price target (down previously from $84.00) on shares of Phillips 66 in a research report on Saturday, April 22nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $87.00 target price on shares of Phillips 66 in a research report on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Phillips 66 currently has an average rating of “Hold” and an average price target of $84.86.

Phillips 66 Company Profile

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.

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