Fort Washington Investment Advisors Inc. OH Buys 7,485 Shares of Phillips 66 $PSX

Fort Washington Investment Advisors Inc. OH increased its stake in shares of Phillips 66 (NYSE:PSX) by 3.2% during the fourth quarter, according to its most recent Form 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 buying an additional 7,485 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Phillips 66 were worth $31,283,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PSX. Elliott Investment Management L.P. raised its position in shares of Phillips 66 by 22.4% in the 2nd 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 buying an additional 3,526,000 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Phillips 66 by 57.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock worth $7,734,000 after acquiring an additional 20,742 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of Phillips 66 by 5.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock worth $28,523,000 after acquiring an additional 10,000 shares in the last quarter. First National Bank of Omaha bought a new position in Phillips 66 in the third quarter valued at approximately $2,357,000. Finally, TD Asset Management Inc increased its stake in Phillips 66 by 15.5% in the third quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock valued at $23,724,000 after acquiring an additional 23,364 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $188.20 on Friday. The company’s 50 day moving average price is $159.24 and its two-hundred day moving average price is $143.29. The firm has a market capitalization of $75.42 billion, a P/E ratio of 17.39, a P/E/G ratio of 0.34 and a beta of 0.86. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $188.53. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. The company had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. During the same period in the prior year, the business earned ($0.15) earnings per share. On average, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a dividend of $1.27 per share. The ex-dividend date was Monday, February 23rd. This represents a $5.08 dividend on an annualized basis and a yield of 2.7%. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio is presently 46.95%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Brian Mandell sold 42,800 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the completion of the transaction, the executive vice president directly owned 61,595 shares in the company, valued at approximately $10,442,200.35. This trade represents a 41.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the sale, the executive vice president directly owned 25,799 shares in the company, valued at $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 84,688 shares of company stock worth $14,066,145. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wolfe Research upped their target price on Phillips 66 from $159.00 to $164.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. The Goldman Sachs Group lifted their price target on Phillips 66 from $168.00 to $186.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. UBS Group reissued a “buy” rating and set a $172.00 price target on shares of Phillips 66 in a report on Friday, February 6th. Morgan Stanley upped their price objective on Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Finally, Piper Sandler raised their price objective on Phillips 66 from $153.00 to $156.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.