Lincoln National Corp Acquires 615 Shares of Phillips 66 (NYSE:PSX)

Lincoln National Corp raised its holdings in Phillips 66 (NYSE:PSX) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,411 shares of the oil and gas company’s stock after acquiring an additional 615 shares during the quarter. Lincoln National Corp’s holdings in Phillips 66 were worth $2,851,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PSX. Private Advisor Group LLC lifted its stake in shares of Phillips 66 by 9.6% in the 4th quarter. Private Advisor Group LLC now owns 45,594 shares of the oil and gas company’s stock valued at $6,070,000 after purchasing an additional 3,981 shares during the last quarter. Summit Trail Advisors LLC lifted its position in shares of Phillips 66 by 12.3% in the fourth quarter. Summit Trail Advisors LLC now owns 2,865 shares of the oil and gas company’s stock worth $381,000 after buying an additional 313 shares during the last quarter. Nkcfo LLC boosted its stake in shares of Phillips 66 by 42.2% during the 4th quarter. Nkcfo LLC now owns 77,500 shares of the oil and gas company’s stock worth $10,318,000 after acquiring an additional 23,000 shares in the last quarter. Valley Brook Capital Group Inc. increased its holdings in shares of Phillips 66 by 3.3% during the 4th quarter. Valley Brook Capital Group Inc. now owns 6,639 shares of the oil and gas company’s stock valued at $884,000 after acquiring an additional 212 shares during the last quarter. Finally, Avidian Wealth Solutions LLC raised its stake in shares of Phillips 66 by 3.1% in the 4th quarter. Avidian Wealth Solutions LLC now owns 4,575 shares of the oil and gas company’s stock valued at $609,000 after acquiring an additional 136 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX traded up $0.09 during midday trading on Tuesday, hitting $145.21. The company had a trading volume of 2,212,347 shares, compared to its average volume of 2,940,431. 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 $61.56 billion, a PE ratio of 11.16, a P/E/G ratio of 1.82 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The firm’s 50-day simple moving average is $155.49 and its 200-day simple moving average is $138.56.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter last year, the firm earned $4.21 EPS. Equities research analysts predict that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.17%. Phillips 66’s dividend payout ratio (DPR) is currently 32.31%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Citigroup initiated coverage on Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating on the stock. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday. Raymond James upped their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Barclays dropped their price objective on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 30th. Finally, Wells Fargo & Company increased their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.43.

Insider Buying and Selling

In other Phillips 66 news, Director Robert W. Pease bought 682 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the transaction, the director now owns 1,900 shares in the company, valued at approximately $278,502. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Pease bought 682 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders sold a total of 35,056 shares of company stock worth $5,272,681 over the last three months. 0.22% of the stock is currently owned by company insiders.

Phillips 66 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.