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

Bahl & Gaynor Inc. decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 2.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,594,147 shares of the oil and gas company’s stock after selling 45,906 shares during the period. Phillips 66 makes up 1.0% of Bahl & Gaynor Inc.’s holdings, making the stock its 29th largest position. Bahl & Gaynor Inc.’s holdings in Phillips 66 were worth $181,621,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mizuho Securities USA LLC increased its stake in shares of Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares during the last quarter. ING Groep NV grew its holdings in Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after purchasing an additional 653,032 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after buying an additional 639,323 shares during the period. Bank of Montreal Can lifted its holdings in Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after acquiring an additional 633,970 shares in the last quarter. Finally, Mizuho Markets Americas LLC bought a new position in shares of Phillips 66 during the 3rd quarter valued at about $70,983,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX opened at $125.03 on Tuesday. 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 company’s fifty day simple moving average is $120.89 and its 200 day simple moving average is $126.63. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The company has a market cap 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 released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 quarter last year, the business earned $3.09 EPS. On average, research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently commented on PSX. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research report on Friday, January 3rd. Barclays decreased their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, UBS Group lowered their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $148.00.

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.