Viking Fund Management LLC Purchases 32,000 Shares of Phillips 66 (NYSE:PSX)

Viking Fund Management LLC grew its position in Phillips 66 (NYSE:PSX) by 91.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,000 shares of the oil and gas company’s stock after purchasing an additional 32,000 shares during the quarter. Viking Fund Management LLC’s holdings in Phillips 66 were worth $7,633,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Mizuho Securities USA LLC raised its position in shares of Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. ING Groep NV grew its stake in Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after purchasing an additional 653,032 shares during the period. Bank of Montreal Can grew its stake in Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after purchasing an additional 633,970 shares during the period. Mizuho Markets Americas LLC acquired a new position in Phillips 66 in the third quarter valued at approximately $70,983,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Phillips 66 by 73.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock worth $96,294,000 after buying an additional 309,507 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Down 0.1 %

PSX stock opened at $120.38 on Wednesday. The stock has a market cap of $49.72 billion, a P/E ratio of 15.45, a P/E/G ratio of 3.84 and a beta of 1.38. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock’s fifty day simple moving average is $122.18 and its two-hundred day simple moving average is $129.32.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period in the prior year, the company earned $4.63 earnings per share. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. Analysts expect that Phillips 66 will post 6.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PSX. Scotiabank lowered their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Barclays cut their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Bank of America started coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $147.93.

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.