Viking Fund Management LLC Sells 12,000 Shares of Phillips 66 (NYSE:PSX)

Viking Fund Management LLC trimmed its position in shares of Phillips 66 (NYSE:PSX) by 33.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,000 shares of the oil and gas company’s stock after selling 12,000 shares during the period. Viking Fund Management LLC’s holdings in Phillips 66 were worth $3,920,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Madison Park Capital Advisors LLC boosted its stake in shares of Phillips 66 by 3.0% in the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after acquiring an additional 68 shares during the period. Warwick Investment Management Inc. lifted its holdings in shares of Phillips 66 by 3.1% in the fourth quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock worth $319,000 after buying an additional 73 shares in the last quarter. HCR Wealth Advisors grew its stake in Phillips 66 by 2.9% during the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after acquiring an additional 74 shares in the last quarter. Nvwm LLC grew its position in shares of Phillips 66 by 0.9% during the fourth quarter. Nvwm LLC now owns 8,286 shares of the oil and gas company’s stock valued at $1,103,000 after purchasing an additional 75 shares in the last quarter. Finally, Cardinal Capital Management increased its stake in Phillips 66 by 0.3% in the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock worth $3,104,000 after acquiring an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

PSX stock traded down $0.62 during trading on Thursday, reaching $139.16. The company had a trading volume of 1,211,422 shares, compared to its average volume of 2,729,340. Phillips 66 has a twelve month low of $91.78 and a twelve month high of $174.08. The firm has a 50-day simple moving average of $143.46 and a 200-day simple moving average of $144.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The company has a market cap of $59.00 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 2.08 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter last year, the business earned $4.21 EPS. As a group, sell-side analysts expect that Phillips 66 will post 11.22 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.31%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Bank of America lifted their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Argus reissued a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a research note on Thursday, May 30th. Barclays decreased their target price on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. Finally, Piper Sandler dropped their price target on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.79.

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.