Bahl & Gaynor Inc. Sells 45,906 Shares of Phillips 66 (NYSE:PSX)

Bahl & Gaynor Inc. cut its position in shares of Phillips 66 (NYSE:PSX) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,594,147 shares of the oil and gas company’s stock after selling 45,906 shares during the period. Phillips 66 comprises about 1.0% of Bahl & Gaynor Inc.’s investment portfolio, making the stock its 29th largest position. Bahl & Gaynor Inc. owned about 0.39% of Phillips 66 worth $181,621,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PSX. Bogart Wealth LLC increased its holdings in Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 120 shares during the period. Stephens Consulting LLC lifted its holdings in shares of Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 111 shares during the period. Human Investing LLC acquired a new stake in shares of Phillips 66 during the 4th quarter valued at about $30,000. Webster Bank N. A. increased its stake in Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 88 shares during the period. Finally, YANKCOM Partnership acquired a new position in Phillips 66 in the fourth quarter worth about $31,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PSX shares. Wells Fargo & Company upped their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Mizuho lowered their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. UBS Group cut their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Price Performance

Shares of PSX stock opened at $125.03 on Tuesday. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average is $120.89 and its 200-day moving average is $126.63. The firm has a market capitalization of $50.97 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 4.84 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the company posted $3.09 EPS. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.68%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio is 93.12%.

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.