Bollard Group LLC Acquires 5,106 Shares of Phillips 66 $PSX

Bollard Group LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 4.6% during the third quarter, Holdings Channel reports. The fund owned 116,924 shares of the oil and gas company’s stock after acquiring an additional 5,106 shares during the quarter. Bollard Group LLC’s holdings in Phillips 66 were worth $15,904,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PSX. Evolution Wealth Management Inc. bought a new position in Phillips 66 during the second quarter worth $25,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Phillips 66 in the second quarter valued at $32,000. Winnow Wealth LLC bought a new position in shares of Phillips 66 in the third quarter valued at about $36,000. Wealth Watch Advisors INC acquired a new stake in shares of Phillips 66 during the 3rd quarter worth about $36,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the 2nd quarter worth about $38,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $172.85 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $69.27 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 0.60 and a beta of 0.86. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $178.38. The company has a 50-day simple moving average of $151.43 and a two-hundred day simple moving average of $140.12.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. The firm had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. During the same quarter in the prior year, the business posted ($0.15) EPS. Analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a dividend of $1.27 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, February 23rd. Phillips 66’s dividend payout ratio (DPR) is currently 46.95%.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 16,856 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,380,590.72. This represents a 14.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the transaction, the executive vice president owned 25,799 shares in the company, valued at $3,869,850. The trade was a 14.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,088 shares of company stock worth $6,147,655 in the last 90 days. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Argus raised their price objective on shares of Phillips 66 from $152.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Wells Fargo & Company boosted their price objective on Phillips 66 from $162.00 to $163.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Piper Sandler upped their target price on Phillips 66 from $153.00 to $156.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Finally, The Goldman Sachs Group increased their target price on Phillips 66 from $168.00 to $186.00 and gave the stock a “neutral” rating in a research note on Thursday. Eleven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $161.33.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.