Lincoln National Corp increased its stake in shares of Phillips 66 (NYSE:PSX) by 4.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,221 shares of the oil and gas company’s stock after buying an additional 635 shares during the period. Lincoln National Corp’s holdings in Phillips 66 were worth $1,127,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in PSX. Winch Advisory Services LLC raised its stake in Phillips 66 by 5,872.7% in the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock worth $104,000 after buying an additional 1,292 shares during the last quarter. FTB Advisors Inc. raised its stake in Phillips 66 by 17.3% in the first quarter. FTB Advisors Inc. now owns 1,444 shares of the oil and gas company’s stock worth $113,000 after buying an additional 213 shares during the last quarter. Barrett Asset Management LLC raised its stake in Phillips 66 by 2.9% in the first quarter. Barrett Asset Management LLC now owns 1,762 shares of the oil and gas company’s stock worth $140,000 after buying an additional 50 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Phillips 66 by 3.1% in the first quarter. Quadrant Capital Group LLC now owns 2,048 shares of the oil and gas company’s stock worth $153,000 after buying an additional 61 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in Phillips 66 during the fourth quarter worth $158,000. 70.01% of the stock is currently owned by institutional investors.
Shares of Phillips 66 (NYSE PSX) opened at 80.94 on Friday. Phillips 66 has a 52 week low of $73.67 and a 52 week high of $88.87. The company has a market cap of $41.77 billion, a price-to-earnings ratio of 25.11 and a beta of 1.27. The firm’s 50-day moving average is $78.55 and its 200-day moving average is $80.59.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 28th. The oil and gas company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.03 by $0.53. The business had revenue of $23.71 billion during the quarter, compared to analyst estimates of $22.30 billion. Phillips 66 had a return on equity of 5.98% and a net margin of 1.86%. During the same quarter last year, the firm posted $0.67 earnings per share. Equities research analysts predict that Phillips 66 will post $4.32 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Thursday, May 18th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, May 16th. This represents a $2.80 annualized dividend and a yield of 3.46%. This is a positive change from Phillips 66’s previous quarterly dividend of $0.63. Phillips 66’s dividend payout ratio (DPR) is currently 86.96%.
A number of equities research analysts have weighed in on the stock. BidaskClub raised shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a report on Tuesday. TheStreet lowered shares of Phillips 66 from a “b-” rating to a “c” rating in a report on Monday, June 5th. Jefferies Group LLC set a $74.00 target price on shares of Phillips 66 and gave the stock a “hold” rating in a report on Saturday, June 3rd. Piper Jaffray Companies reissued an “overweight” rating and set a $88.00 target price on shares of Phillips 66 in a report on Thursday, May 25th. Finally, US Capital Advisors reissued a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $85.25.
Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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