Bahl & Gaynor Inc. Sells 20,772 Shares of Phillips 66 (NYSE:PSX)

Bahl & Gaynor Inc. lowered its stake in Phillips 66 (NYSE:PSX) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,486,089 shares of the oil and gas company’s stock after selling 20,772 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Phillips 66 were worth $197,858,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jackson Hole Capital Partners LLC lifted its position in Phillips 66 by 45.6% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 4,874 shares of the oil and gas company’s stock valued at $649,000 after purchasing an additional 1,527 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $244,000. Syon Capital LLC increased its stake in shares of Phillips 66 by 7.9% during the fourth quarter. Syon Capital LLC now owns 3,401 shares of the oil and gas company’s stock valued at $453,000 after buying an additional 248 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Phillips 66 by 2.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 19,705 shares of the oil and gas company’s stock valued at $2,624,000 after buying an additional 472 shares during the period. Finally, Fractal Investments LLC purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $333,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 3.7 %

Shares of NYSE:PSX opened at $151.41 on Friday. The company has a market cap of $64.78 billion, a P/E ratio of 9.79, a PEG ratio of 1.90 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The stock’s fifty day moving average price is $155.55 and its 200-day moving average price is $136.88.

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

Phillips 66 Increases Dividend

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

Insider Activity

In other news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock valued at $5,272,681 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the topic of several research analyst reports. Raymond James boosted their target price on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Bank of America upped their price target on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Wells Fargo & Company upped their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. upped their price target on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Finally, Citigroup started coverage on Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating on the stock. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $158.00.

About Phillips 66

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.