Phillips 66 $PSX Shares Acquired by Viking Fund Management LLC

Viking Fund Management LLC grew its stake in Phillips 66 (NYSE:PSX) by 5.7% in the second quarter, Holdings Channel reports. The fund owned 92,000 shares of the oil and gas company’s stock after purchasing an additional 5,000 shares during the period. Phillips 66 accounts for about 1.5% of Viking Fund Management LLC’s portfolio, making the stock its 18th largest holding. Viking Fund Management LLC’s holdings in Phillips 66 were worth $10,976,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PSX. von Borstel & Associates Inc. acquired a new stake in shares of Phillips 66 in the 1st quarter worth $27,000. Olde Wealth Management LLC acquired a new stake in shares of Phillips 66 in the 1st quarter worth $28,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Phillips 66 in the 4th quarter worth $29,000. Opal Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the 1st quarter worth $29,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Phillips 66 in the 1st quarter worth $29,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $129.39 on Friday. The business has a 50-day moving average of $127.04 and a 200 day moving average of $119.78. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $140.60. The stock has a market capitalization of $52.29 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 1.88 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) last announced its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The company had revenue of $33.77 billion during the quarter, compared to analysts’ expectations of $32.11 billion. During the same period last year, the business posted $2.31 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, August 19th. Phillips 66’s dividend payout ratio (DPR) is 115.38%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PSX. Wall Street Zen raised Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Barclays raised their price objective on Phillips 66 from $115.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 9th. Scotiabank reissued a “sector perform” rating and set a $133.00 price objective on shares of Phillips 66 in a research report on Friday, July 11th. Argus raised Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Finally, UBS Group raised their price objective on Phillips 66 from $141.00 to $143.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.94.

Insider Transactions at Phillips 66

In other news, Director Gregory Hayes bought 8,350 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the acquisition, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. The trade was a 39.62% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael A. Heim bought 1,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average price of $125.97 per share, with a total value of $125,970.00. Following the completion of the acquisition, the director directly owned 12,043 shares in the company, valued at $1,517,056.71. This trade represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 9,850 shares of company stock valued at $1,188,910. Insiders own 0.22% of the company’s stock.

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.