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

Viking Fund Management LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 91.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,000 shares of the oil and gas company’s stock after acquiring an additional 32,000 shares during the period. Viking Fund Management LLC’s holdings in Phillips 66 were worth $7,633,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Advisory Alpha LLC increased its holdings in shares of Phillips 66 by 4.8% in the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after purchasing an additional 76 shares during the period. Krane Funds Advisors LLC increased its stake in Phillips 66 by 3.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 82 shares during the last quarter. Richwood Investment Advisors LLC raised its holdings in shares of Phillips 66 by 1.9% in the 3rd quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock valued at $602,000 after acquiring an additional 85 shares in the last quarter. Cobblestone Capital Advisors LLC NY boosted its position in shares of Phillips 66 by 0.5% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock valued at $2,307,000 after acquiring an additional 89 shares during the last quarter. Finally, Western Financial Corp CA grew its holdings in shares of Phillips 66 by 1.6% during the third quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock worth $773,000 after purchasing an additional 91 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PSX. UBS Group lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Scotiabank cut their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company lowered their price target on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Bank of America began coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Finally, Mizuho decreased their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Trading Down 0.1 %

NYSE:PSX opened at $120.38 on Wednesday. The firm has a market capitalization 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 52 week low of $108.90 and a 52 week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average of $122.18 and a 200 day moving average of $129.32.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $4.63 earnings per share. On average, research analysts predict that Phillips 66 will post 6.41 earnings per share for the current year.

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.