Fort Washington Investment Advisors Inc. OH Sells 6,304 Shares of Phillips 66 (NYSE:PSX)

Fort Washington Investment Advisors Inc. OH cut its stake in shares of Phillips 66 (NYSE:PSX) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 356,570 shares of the oil and gas company’s stock after selling 6,304 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.08% of Phillips 66 worth $50,337,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth about $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 during the 1st quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in Phillips 66 during the fourth quarter valued at approximately $27,000. Redmont Wealth Advisors LLC bought a new stake in Phillips 66 in the first quarter valued at approximately $28,000. Finally, First United Bank & Trust bought a new stake in Phillips 66 in the fourth quarter valued at approximately $31,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $180.00 to $176.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Raymond James lifted their target price on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Scotiabank lowered their price target on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Mizuho dropped their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Finally, Barclays increased their target price on Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $157.38.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Up 2.8 %

Shares of PSX stock traded up $3.81 during trading on Friday, reaching $140.31. The company’s stock had a trading volume of 3,970,510 shares, compared to its average volume of 2,628,280. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The business has a fifty day moving average price of $137.81 and a 200-day moving average price of $145.27. The company has a market cap of $59.48 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 2.43 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period in the previous year, the business earned $3.87 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. Analysts anticipate that Phillips 66 will post 9.53 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s dividend payout ratio is currently 35.38%.

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.