Viking Fund Management LLC Grows Stake in Phillips 66 (NYSE:PSX)

Viking Fund Management LLC increased its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 29.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,000 shares of the oil and gas company's stock after acquiring an additional 20,000 shares during the period. Phillips 66 comprises approximately 1.5% of Viking Fund Management LLC's holdings, making the stock its 15th largest 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 large investors have also bought and sold shares of PSX. Forum Financial Management LP increased its stake in Phillips 66 by 1.0% in the fourth quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock valued at $853,000 after acquiring an additional 77 shares during the last quarter. NewEdge Wealth LLC increased its stake in shares of Phillips 66 by 0.5% in the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock valued at $1,732,000 after purchasing an additional 81 shares during the last quarter. JBR Co Financial Management Inc increased its stake in shares of Phillips 66 by 0.9% in the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock valued at $1,085,000 after purchasing an additional 85 shares during the last quarter. Nwam LLC increased its stake in shares of Phillips 66 by 2.2% in the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock valued at $442,000 after purchasing an additional 85 shares during the last quarter. Finally, PFG Private Wealth Management LLC increased its stake in shares of Phillips 66 by 7.7% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock valued at $140,000 after purchasing an additional 88 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PSX has been the subject of several research analyst reports. Raymond James lowered their target price on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley lowered their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Scotiabank lowered their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Mizuho upped their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target for the company. in a report on Thursday, March 27th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $135.62.

Phillips 66 Trading Up 2.0%

NYSE PSX traded up $2.28 on Friday, reaching $114.51. The company had a trading volume of 2,821,031 shares, compared to its average volume of 3,021,660. The firm has a market cap of $46.65 billion, a price-to-earnings ratio of 23.18, a P/E/G ratio of 4.84 and a beta of 1.02. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The business has a 50 day moving average of $108.22 and a two-hundred day moving average of $118.02. 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 for the quarter, missing the consensus estimate of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the company posted $1.90 EPS. Analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Monday, May 19th. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio is currently 109.34%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Robert W. Pease purchased 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the transaction, the director now owns 4,091 shares in the company, valued at $465,760.35. This trade represents a 12.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company's stock.

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.