Lincoln National Corp Raises Stake in Phillips 66 (NYSE:PSX)

Lincoln National Corp boosted its stake in shares of Phillips 66 (NYSE:PSX) by 3.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 21,411 shares of the oil and gas company’s stock after purchasing an additional 615 shares during the period. Lincoln National Corp’s holdings in Phillips 66 were worth $2,851,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new stake in shares of Phillips 66 in the fourth quarter valued at $254,336,000. Bahl & Gaynor Inc. raised its stake in 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 valued at $181,049,000 after acquiring an additional 439,360 shares during the period. Acadian Asset Management LLC lifted its holdings in Phillips 66 by 1,038.3% during the third quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock valued at $56,720,000 after purchasing an additional 430,723 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Phillips 66 by 53.2% during the third 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 purchasing an additional 421,714 shares during the period. Finally, Nomura Holdings Inc. increased its stake in shares of Phillips 66 by 10,239.5% in the third quarter. Nomura Holdings Inc. now owns 399,000 shares of the oil and gas company’s stock worth $47,940,000 after purchasing an additional 395,141 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the business’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 completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Price Performance

Phillips 66 stock traded up $0.09 during mid-day trading on Tuesday, hitting $145.21. 2,212,347 shares of the company traded hands, compared to its average volume of 2,940,431. The stock has a fifty day moving average price of $155.49 and a 200-day moving average price of $138.56. The stock has a market cap of $61.56 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion for 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 period in the prior year, the firm posted $4.21 earnings per share. On average, equities analysts predict that Phillips 66 will post 13.17 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company 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 $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.17%. Phillips 66’s payout ratio is presently 32.31%.

Analyst Ratings Changes

A number of analysts recently commented on PSX shares. Citigroup began coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating on the stock. The Goldman Sachs Group lifted their price target on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Mizuho decreased their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Bank of America raised their target price on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Finally, Wells Fargo & Company upped their price target on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.43.

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.