Fort Washington Investment Advisors Inc. OH Trims Stake in Phillips 66 $PSX

Fort Washington Investment Advisors Inc. OH lessened its position in Phillips 66 (NYSE:PSX) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 234,940 shares of the oil and gas company’s stock after selling 13,962 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.06% of Phillips 66 worth $31,957,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PSX. CWC Advisors LLC. boosted its position in shares of Phillips 66 by 0.6% during the third quarter. CWC Advisors LLC. now owns 13,351 shares of the oil and gas company’s stock valued at $1,816,000 after buying an additional 80 shares during the period. Wolff Wiese Magana LLC lifted its stake in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 82 shares during the last quarter. Magnus Financial Group LLC boosted its holdings in Phillips 66 by 2.8% during the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after acquiring an additional 84 shares during the period. Biltmore Wealth Management LLC grew its position in Phillips 66 by 2.4% in the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock valued at $431,000 after acquiring an additional 85 shares during the last quarter. Finally, XML Financial LLC grew its position in Phillips 66 by 0.5% in the 2nd quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock valued at $2,093,000 after acquiring an additional 85 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSX. Bank of America lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and boosted their target price for the company from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Evercore ISI boosted their price objective on shares of Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. UBS Group restated a “buy” rating and issued a $160.00 target price on shares of Phillips 66 in a research note on Monday, November 10th. Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. Finally, Morgan Stanley boosted their price target on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.82.

Phillips 66 Price Performance

NYSE PSX opened at $129.60 on Wednesday. The company has a market cap of $52.22 billion, a PE ratio of 35.41, a P/E/G ratio of 0.68 and a beta of 0.92. The firm’s 50 day moving average price is $135.72 and its 200-day moving average price is $130.65. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $144.96.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter in the prior year, the business earned $2.04 earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. Phillips 66’s dividend payout ratio (DPR) is presently 131.15%.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the sale, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian Mandell sold 25,500 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the transaction, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,959,593.52. This trade represents a 30.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 81,700 shares of company stock worth $11,318,236. 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.