Lincoln National Corp lifted its position in Phillips 66 (NYSE:PSX – Get Rating) by 5.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in Phillips 66 by 62.1% in the first quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock valued at $620,979,000 after purchasing an additional 2,753,700 shares during the period. FMR LLC raised its position in Phillips 66 by 18.9% in the second quarter. FMR LLC now owns 10,264,690 shares of the oil and gas company’s stock valued at $841,602,000 after purchasing an additional 1,634,573 shares during the period. State Street Corp raised its position in Phillips 66 by 2.7% in the second quarter. State Street Corp now owns 32,668,525 shares of the oil and gas company’s stock valued at $2,678,492,000 after purchasing an additional 854,076 shares during the period. Renaissance Technologies LLC raised its position in Phillips 66 by 50.3% in the first quarter. Renaissance Technologies LLC now owns 2,053,650 shares of the oil and gas company’s stock valued at $177,415,000 after purchasing an additional 687,650 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Phillips 66 by 194.6% in the 2nd quarter. AQR Capital Management LLC now owns 888,094 shares of the oil and gas company’s stock valued at $72,814,000 after buying an additional 586,601 shares during the period. 70.76% of the stock is owned by institutional investors and hedge funds.
Phillips 66 Stock Up 0.1 %
Shares of NYSE PSX opened at $107.01 on Wednesday. The stock has a market cap of $50.58 billion, a PE ratio of 4.90, a price-to-earnings-growth ratio of 0.40 and a beta of 1.41. The company has a quick ratio of 1.06, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. Phillips 66 has a 52-week low of $73.85 and a 52-week high of $113.53. The business has a 50-day moving average price of $104.51 and a 200 day moving average price of $95.44.
Wall Street Analyst Weigh In
Several research firms recently issued reports on PSX. Raymond James boosted their price objective on Phillips 66 from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, January 13th. Piper Sandler lowered their target price on Phillips 66 from $155.00 to $137.00 and set an “overweight” rating for the company in a research note on Monday, December 19th. Cowen boosted their target price on Phillips 66 to $115.00 in a research note on Tuesday, November 15th. Royal Bank of Canada boosted their target price on Phillips 66 from $119.00 to $131.00 and gave the stock an “outperform” rating in a research note on Thursday, November 10th. Finally, BMO Capital Markets boosted their target price on Phillips 66 from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, November 10th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.93.
Insider Buying and Selling at Phillips 66
In other Phillips 66 news, VP Joseph Scott Pruitt sold 3,000 shares of the company’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 sale, the vice president now directly owns 15,302 shares of the company’s stock, valued at approximately $1,711,681.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.74% of the stock is owned by company insiders.
Phillips 66 Company Profile
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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