Federated Hermes Inc. Lowers Holdings in Phillips 66 (NYSE:PSX)

Federated Hermes Inc. trimmed its position in Phillips 66 (NYSE:PSX) by 25.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,690 shares of the oil and gas company’s stock after selling 19,115 shares during the quarter. Federated Hermes Inc.’s holdings in Phillips 66 were worth $7,415,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of Phillips 66 in the 4th quarter worth $254,336,000. Bank of New York Mellon Corp raised its position in shares of Phillips 66 by 12.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock worth $549,156,000 after acquiring an additional 502,785 shares in the last quarter. Bahl & Gaynor Inc. raised its position in shares of Phillips 66 by 41.2% in the 3rd quarter. Bahl & Gaynor Inc. now owns 1,506,861 shares of the oil and gas company’s stock worth $181,049,000 after acquiring an additional 439,360 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Phillips 66 by 1,038.3% in the 3rd quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock worth $56,720,000 after acquiring an additional 430,723 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Phillips 66 by 53.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock worth $145,951,000 after acquiring an additional 421,714 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 0.6 %

NYSE:PSX opened at $157.82 on Thursday. The business’s 50-day moving average is $155.18 and its two-hundred day moving average is $136.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The firm has a market capitalization of $67.52 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The company had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Research analysts predict that Phillips 66 will post 13.59 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a $1.15 dividend. The ex-dividend date is Friday, May 17th. 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 2.91%. Phillips 66’s dividend payout ratio (DPR) is 27.15%.

Wall Street Analyst Weigh In

PSX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. The Goldman Sachs Group increased their price target on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Wells Fargo & Company increased their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Barclays increased their price target on Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Finally, StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.00.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock valued at $5,272,681 over the last three months. 0.22% of the stock is owned by company insiders.

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.