Viking Fund Management LLC Buys 20,000 Shares of Phillips 66 (NYSE:PSX)

Viking Fund Management LLC increased its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 29.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,000 shares of the oil and gas company's stock after purchasing an additional 20,000 shares during the quarter. Phillips 66 makes up about 1.5% of Viking Fund Management LLC's investment portfolio, making the stock its 15th biggest holding. Viking Fund Management LLC's holdings in Phillips 66 were worth $10,743,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PSX. Price T Rowe Associates Inc. MD grew its holdings in shares of Phillips 66 by 283.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after acquiring an additional 4,455,220 shares in the last quarter. Norges Bank acquired a new position in Phillips 66 during the fourth quarter valued at approximately $497,648,000. Raymond James Financial Inc. bought a new position in Phillips 66 in the fourth quarter valued at approximately $168,790,000. Capitolis Liquid Global Markets LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $142,185,000. Finally, GAMMA Investing LLC raised its stake in shares of Phillips 66 by 14,119.5% during the 1st quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company's stock worth $146,893,000 after purchasing an additional 1,181,240 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Insider Activity

In related news, Director Robert W. Pease purchased 439 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the purchase, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Trading Down 3.0%

Shares of Phillips 66 stock traded down $3.51 during midday trading on Wednesday, reaching $112.46. The company had a trading volume of 3,686,128 shares, compared to its average volume of 3,014,061. The stock has a fifty day moving average price of $108.84 and a 200 day moving average price of $118.30. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The firm has a market cap of $45.82 billion, a PE ratio of 22.77, a P/E/G ratio of 4.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The firm had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. During the same quarter last year, the firm posted $1.90 EPS. On average, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $1.20 per share. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 4.27%. Phillips 66's dividend payout ratio is presently 109.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PSX shares. UBS Group lowered their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 28th. The Goldman Sachs Group cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price on the stock. in a report on Thursday, March 27th. Raymond James reduced their price target on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Morgan Stanley dropped their price objective on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Barclays lifted their price objective on shares of Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $135.62.

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.