Phillips 66 $PSX Shares Sold by Bollard Group LLC

Bollard Group LLC cut its stake in Phillips 66 (NYSE:PSX) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 109,684 shares of the oil and gas company’s stock after selling 7,240 shares during the period. Bollard Group LLC’s holdings in Phillips 66 were worth $14,154,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Board of the Pension Protection Fund acquired a new position in Phillips 66 during the fourth quarter valued at approximately $26,000. Accordant Advisory Group Inc lifted its position in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 180 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in Phillips 66 during the fourth quarter valued at approximately $27,000. SWAN Capital LLC lifted its position in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 190 shares in the last quarter. Finally, Stephens Consulting LLC lifted its position in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 90 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Trading Up 0.7%

PSX opened at $179.27 on Friday. The firm has a market capitalization of $71.87 billion, a P/E ratio of 17.66, a P/E/G ratio of 0.26 and a beta of 0.68. The firm’s 50 day moving average is $172.49 and its 200-day moving average is $157.75. Phillips 66 has a 52-week low of $118.00 and a 52-week high of $190.61. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.90) earnings per share. Analysts expect that Phillips 66 will post 17.95 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a dividend of $1.27 per share. The ex-dividend date was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.8%. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Analysts Set New Price Targets

PSX has been the topic of a number of recent research reports. BMO Capital Markets lifted their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group lifted their price target on shares of Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. Scotiabank lifted their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Citigroup lifted their price target on shares of Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Finally, Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.33.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 600 shares of Phillips 66 stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at $16,705,826.56. This trade represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin Omar Meyers acquired 175 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 45,629 shares of company stock worth $8,071,540 in the last quarter. Insiders own 0.40% of the company’s stock.

Phillips 66 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.