Phillips 66 (NYSE:PSX) Shares Acquired by Lincoln National Corp

Lincoln National Corp lifted its holdings in shares of Phillips 66 (NYSE:PSXGet Rating) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 17,850 shares of the oil and gas company’s stock after acquiring an additional 948 shares during the period. Lincoln National Corp’s holdings in Phillips 66 were worth $1,441,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. WFA of San Diego LLC purchased a new position in shares of Phillips 66 in the 2nd quarter worth $25,000. Heritage Financial Services LLC purchased a new position in Phillips 66 in the second quarter valued at about $28,000. Horan Securities Inc. raised its position in Phillips 66 by 210.6% in the third quarter. Horan Securities Inc. now owns 351 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 238 shares during the period. Core Alternative Capital raised its position in Phillips 66 by 218.3% in the third quarter. Core Alternative Capital now owns 366 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 251 shares during the period. Finally, FinTrust Capital Advisors LLC raised its position in Phillips 66 by 79.2% in the second quarter. FinTrust Capital Advisors LLC now owns 362 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 70.76% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $107.01 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average of $104.51 and a two-hundred day moving average of $95.44. Phillips 66 has a 52 week low of $73.85 and a 52 week high of $113.53. The company has a market cap of $50.58 billion, a P/E ratio of 4.90, a PEG ratio of 0.40 and a beta of 1.41.

Phillips 66 (NYSE:PSXGet Rating) last issued its earnings results on Tuesday, November 1st. The oil and gas company reported $6.46 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $1.48. Phillips 66 had a return on equity of 32.66% and a net margin of 6.18%. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $40.68 billion. During the same period in the previous year, the firm posted $3.18 earnings per share. As a group, analysts anticipate that Phillips 66 will post 19.45 EPS for the current year.

Analysts Set New Price Targets

PSX has been the topic of several research reports. Piper Sandler cut their price objective on Phillips 66 from $155.00 to $137.00 and set an “overweight” rating on the stock in a research report on Monday, December 19th. Morgan Stanley lifted their target price on Phillips 66 from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, January 20th. Jefferies Financial Group initiated coverage on Phillips 66 in a research report on Wednesday, October 19th. They set a “hold” rating and a $105.00 target price on the stock. StockNews.com raised Phillips 66 from a “hold” rating to a “buy” rating in a research report on Tuesday, January 10th. Finally, Raymond James lifted their target price on Phillips 66 from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, January 13th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $118.93.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $111.86, for a total transaction of $335,580.00. Following the completion of the transaction, the vice president now directly owns 15,302 shares in the company, valued at $1,711,681.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.74% of the company’s stock.

About Phillips 66

(Get Rating)

Phillips 66 operates as an energy manufacturing and logistics company. 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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