Viking Fund Management LLC Purchases 5,000 Shares of Phillips 66 $PSX

Key Points

• Viking Fund Management LLC increased its ownership in Phillips 66 by 5.7% during the second quarter, now holding approximately 92,000 shares valued at nearly $10.98 million, making it the fund's 18th largest holding.
• Phillips 66 recently reported $2.38 EPS for the last quarter, exceeding estimates and indicating a net margin of 1.27% on revenues of $33.77 billion.
• The company declared a quarterly dividend of $1.20 per share, representing an annualized yield of 3.7%, though the dividend payout ratio stands at 115.38%.

Viking Fund Management LLC grew its position in Phillips 66 (NYSE:PSX - Free Report) by 5.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 92,000 shares of the oil and gas company's stock after buying an additional 5,000 shares during the period. Phillips 66 makes up 1.5% of Viking Fund Management LLC's portfolio, making the stock its 18th largest position. Viking Fund Management LLC's holdings in Phillips 66 were worth $10,976,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PSX. Brighton Jones LLC lifted its position in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock worth $1,166,000 after buying an additional 7,214 shares in the last quarter. State of Wyoming raised its holdings in Phillips 66 by 106.3% in the 4th quarter. State of Wyoming now owns 1,857 shares of the oil and gas company's stock valued at $212,000 after acquiring an additional 957 shares during the period. Tidal Investments LLC raised its holdings in Phillips 66 by 6.5% in the 4th quarter. Tidal Investments LLC now owns 22,916 shares of the oil and gas company's stock valued at $2,611,000 after acquiring an additional 1,393 shares during the period. Two Sigma Investments LP acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $3,423,000. Finally, Two Sigma Advisers LP acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $5,776,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Analyst Ratings Changes

PSX has been the topic of several analyst reports. Mizuho increased their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a "neutral" rating in a research report on Monday, September 15th. Raymond James Financial increased their price target on shares of Phillips 66 from $142.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 9th. UBS Group raised their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the company a "buy" rating in a research report on Monday. Compass Point started coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a "buy" rating for the company. Finally, JPMorgan Chase & Co. set a $115.00 price target on shares of Phillips 66 in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $139.38.

Insider Activity

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $135.00, for a total transaction of $593,055.00. Following the sale, the executive vice president owned 38,980 shares in the company, valued at approximately $5,262,300. This trade represents a 10.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael A. Heim bought 1,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were purchased at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the purchase, the director owned 12,043 shares in the company, valued at $1,517,056.71. This trade represents a 9.06% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 9,850 shares of company stock worth $1,188,910 in the last quarter. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Up 2.4%

PSX stock traded up $3.14 during trading on Tuesday, hitting $132.71. 765,896 shares of the stock traded hands, compared to its average volume of 3,238,609. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.60. The firm's 50 day moving average is $127.06 and its two-hundred day moving average is $119.78. The stock has a market cap of $53.63 billion, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 1.86 and a beta of 1.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter last year, the firm posted $2.31 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.20 per share. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

About Phillips 66

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.