Bahl & Gaynor Inc. Has $197.86 Million Holdings in Phillips 66 (NYSE:PSX)

Bahl & Gaynor Inc. lessened its stake in Phillips 66 (NYSE:PSX) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,486,089 shares of the oil and gas company’s stock after selling 20,772 shares during the quarter. Bahl & Gaynor Inc. owned about 0.34% of Phillips 66 worth $197,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PSX. Cornerstone Planning Group LLC grew its position in shares of Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after buying an additional 151 shares during the period. Bruce G. Allen Investments LLC bought a new position in Phillips 66 during the 4th quarter worth approximately $36,000. Bell Investment Advisors Inc boosted its stake in Phillips 66 by 82.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 138 shares during the last quarter. West Branch Capital LLC boosted its stake in Phillips 66 by 49.5% during the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 91 shares during the last quarter. Finally, Headinvest LLC bought a new position in Phillips 66 during the 3rd quarter worth approximately $51,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PSX. Piper Sandler lifted their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup began coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating on the stock. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Mizuho cut their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.00.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Performance

Shares of PSX stock opened at $151.41 on Friday. The company’s fifty day simple moving average is $155.55 and its 200-day simple moving average is $136.88. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The firm has a market cap of $64.78 billion, a PE ratio of 9.79, a P/E/G ratio of 1.90 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same period in the prior year, the company earned $4.21 EPS. Equities research analysts expect that Phillips 66 will post 13.77 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 27.15%.

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.