Bollard Group LLC Has $15.90 Million Holdings in Phillips 66 $PSX

Bollard Group LLC raised its holdings in Phillips 66 (NYSE:PSX) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 116,924 shares of the oil and gas company’s stock after acquiring an additional 5,106 shares during the period. 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.

Other hedge funds also recently modified their holdings of the company. Mesirow Financial Investment Management Inc. increased its stake in Phillips 66 by 0.5% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock worth $2,130,000 after purchasing an additional 73 shares in the last quarter. KCM Investment Advisors LLC boosted its holdings in shares of Phillips 66 by 1.6% in the third quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock valued at $631,000 after buying an additional 74 shares during the period. Heck Capital Advisors LLC boosted its holdings in shares of Phillips 66 by 1.2% in the third quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company’s stock valued at $833,000 after buying an additional 75 shares during the period. Portside Wealth Group LLC increased its position in shares of Phillips 66 by 3.8% during the third quarter. Portside Wealth Group LLC now owns 2,033 shares of the oil and gas company’s stock worth $277,000 after acquiring an additional 75 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY increased its position in shares of Phillips 66 by 0.4% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 16,926 shares of the oil and gas company’s stock worth $2,302,000 after acquiring an additional 75 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the topic of several research reports. UBS Group reaffirmed a “buy” rating and issued a $172.00 price objective on shares of Phillips 66 in a research report on Friday, February 6th. Wolfe Research increased their target price on Phillips 66 from $159.00 to $164.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Raymond James Financial lifted their price target on Phillips 66 from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Barclays set a $158.00 price objective on Phillips 66 in a research report on Friday, February 20th. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 has an average rating of “Hold” and an average target price of $161.33.

Phillips 66 Price Performance

NYSE:PSX opened at $172.85 on Friday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $178.38. The company has a market cap of $69.27 billion, a P/E ratio of 15.98, a P/E/G ratio of 0.60 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30. The stock’s 50-day simple moving average is $151.43 and its 200 day simple moving average is $140.12.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.15 by $0.32. The firm had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same period in the prior year, the firm posted ($0.15) earnings per share. As a group, sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, February 23rd. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s payout ratio is currently 46.95%.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 16,856 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,380,590.72. The trade was a 14.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the sale, the executive vice president directly owned 38,488 shares in the company, valued at $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 38,088 shares of company stock valued at $6,147,655. 0.22% of the stock is owned by corporate insiders.

About Phillips 66

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.