Phillips 66 (NYSE:PSX) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. trimmed its position in Phillips 66 (NYSE:PSX - Free Report) by 1.4% during the 4th quarter, according to its most recent Form 13F filing 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 period. Bahl & Gaynor Inc. owned about 0.34% of Phillips 66 worth $197,858,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC raised its stake in shares of Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company's stock worth $32,000 after buying an additional 151 shares during the period. Bruce G. Allen Investments LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth approximately $36,000. West Branch Capital LLC boosted its holdings in shares of Phillips 66 by 49.5% in the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company's stock worth $37,000 after purchasing an additional 91 shares during the period. Bell Investment Advisors Inc boosted its holdings in shares of Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company's stock worth $37,000 after purchasing an additional 138 shares during the period. Finally, Headinvest LLC purchased a new position in shares of Phillips 66 in the 3rd quarter worth approximately $51,000. Institutional investors own 76.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Citigroup began coverage on Phillips 66 in a report on Wednesday, January 24th. They issued a "buy" rating for the company. The Goldman Sachs Group boosted their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a "buy" rating in a report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an "overweight" rating in a report on Monday, April 1st. Barclays boosted their price objective on Phillips 66 from $139.00 to $155.00 and gave the company an "equal weight" rating in a report on Thursday, April 18th. Finally, Scotiabank boosted their price objective on Phillips 66 from $148.00 to $156.00 and gave the company a "sector outperform" rating in a report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $158.00.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Pease purchased 682 shares of the company's stock in a transaction on Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders have sold 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.

Phillips 66 Stock Down 3.7 %

NYSE:PSX traded down $5.83 during mid-day trading on Friday, hitting $151.41. 4,206,800 shares of the company's stock traded hands, compared to its average volume of 2,131,287. The company has a fifty day moving average of $155.55 and a 200 day moving average of $137.06. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The company has a market capitalization of $64.78 billion, a P/E ratio of 9.79, a P/E/G ratio of 1.90 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $35.87 billion. During the same period in the prior year, the company earned $4.21 earnings per share. On average, analysts forecast that Phillips 66 will post 13.77 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a dividend of $1.15 per share. This is a positive change from Phillips 66's previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66's dividend payout ratio is currently 29.73%.

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.