Fort Washington Investment Advisors Inc. OH Has $31.28 Million Stock Holdings in Phillips 66 $PSX

Fort Washington Investment Advisors Inc. OH grew its stake in Phillips 66 (NYSE:PSX) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,425 shares of the oil and gas company’s stock after acquiring an additional 7,485 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.06% of Phillips 66 worth $31,283,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Phillips 66 by 11.6% during the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock worth $7,035,574,000 after acquiring an additional 5,356,558 shares in the last quarter. Elliott Investment Management L.P. grew its stake in Phillips 66 by 22.4% in the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after purchasing an additional 3,526,000 shares in the last quarter. Norges Bank acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $523,755,000. Amundi increased its position in shares of Phillips 66 by 2.8% during the 3rd quarter. Amundi now owns 2,400,180 shares of the oil and gas company’s stock worth $319,123,000 after purchasing an additional 65,568 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Phillips 66 by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 2,276,036 shares of the oil and gas company’s stock worth $309,586,000 after purchasing an additional 33,397 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $188.20 on Friday. The stock has a 50 day simple moving average of $159.24 and a 200 day simple moving average of $143.29. The stock has a market cap of $75.42 billion, a P/E ratio of 17.39, a PEG ratio of 0.34 and a beta of 0.86. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $188.53. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The firm had revenue of $32.16 billion for the quarter, compared to analyst estimates 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) EPS. Research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.7%. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date was Monday, February 23rd. Phillips 66’s dividend payout ratio is currently 46.95%.

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 16,856 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $16,380,590.72. This trade represents a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total transaction of $659,100.00. Following the completion of the sale, the executive vice president owned 25,799 shares of the company’s stock, valued at $3,869,850. This trade represents a 14.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 84,688 shares of company stock valued at $14,066,145 in the last three months. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on PSX. Morgan Stanley increased their price objective on Phillips 66 from $140.00 to $147.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Mizuho boosted their target price on shares of Phillips 66 from $152.00 to $170.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. UBS Group reaffirmed a “buy” rating and set a $172.00 price target on shares of Phillips 66 in a research report on Friday, February 6th. Scotiabank reiterated a “sector perform” rating and issued a $140.00 price target on shares of Phillips 66 in a research note on Friday, January 16th. Finally, Piper Sandler lifted their price objective on shares of Phillips 66 from $153.00 to $156.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.00.

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.