Phillips 66 $PSX Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. reduced its position in shares of Phillips 66 (NYSE:PSX) by 41.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 854,543 shares of the oil and gas company’s stock after selling 613,810 shares during the period. Bahl & Gaynor Inc. owned 0.21% of Phillips 66 worth $101,947,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in shares of Phillips 66 by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 796,026 shares of the oil and gas company’s stock worth $94,966,000 after buying an additional 6,586 shares during the last quarter. AlphaCore Capital LLC grew its position in Phillips 66 by 149.6% in the second quarter. AlphaCore Capital LLC now owns 4,782 shares of the oil and gas company’s stock worth $570,000 after acquiring an additional 2,866 shares during the period. Mufg Securities Americas Inc. increased its stake in Phillips 66 by 23.5% during the second quarter. Mufg Securities Americas Inc. now owns 9,029 shares of the oil and gas company’s stock worth $1,077,000 after acquiring an additional 1,719 shares during the last quarter. Evelyn Partners Investment Management LLP raised its position in Phillips 66 by 51,950.0% in the second quarter. Evelyn Partners Investment Management LLP now owns 1,041 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 1,039 shares during the period. Finally, Journey Strategic Wealth LLC lifted its stake in shares of Phillips 66 by 27.1% in the 2nd quarter. Journey Strategic Wealth LLC now owns 2,083 shares of the oil and gas company’s stock valued at $249,000 after purchasing an additional 444 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PSX. TD Cowen raised their price objective on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Piper Sandler lifted their price target on shares of Phillips 66 from $159.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, November 14th. Argus raised shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. BMO Capital Markets increased their price objective on shares of Phillips 66 from $152.00 to $160.00 in a research report on Tuesday, November 11th. Finally, Barclays boosted their target price on Phillips 66 from $132.00 to $141.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $145.71.

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the transaction, the chief financial officer owned 89,771 shares in the company, valued at approximately $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brian Mandell sold 26,200 shares of the stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,825,455.84. This trade represents a 31.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 64,986 shares of company stock worth $8,955,291 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $133.78 on Friday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $143.25. The company has a fifty day simple moving average of $134.33 and a two-hundred day simple moving average of $126.93. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The company has a market cap of $53.90 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The firm had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. During the same period last year, the business posted $2.04 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. Phillips 66’s payout ratio is currently 131.15%.

Phillips 66 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.