Viking Fund Management LLC Cuts Position in Phillips 66 (PSX)
Viking Fund Management LLC cut its position in shares of Phillips 66 (NYSE:PSX) by 36.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 140,000 shares of the company’s stock after selling 80,000 shares during the period. Phillips 66 makes up 1.9% of Viking Fund Management LLC’s holdings, making the stock its 24th largest position. Viking Fund Management LLC’s holdings in Phillips 66 were worth $11,277,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the stock. Cribstone Capital Management LLC purchased a new stake in shares of Phillips 66 during the second quarter valued at $114,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Phillips 66 by 2,762.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the company’s stock valued at $138,000 after buying an additional 1,409 shares during the last quarter. Delphi Private Advisors LLC boosted its stake in shares of Phillips 66 by 1.0% in the second quarter. Delphi Private Advisors LLC now owns 1,781 shares of the company’s stock valued at $141,000 after buying an additional 18 shares during the last quarter. Farmers National Bank purchased a new stake in shares of Phillips 66 during the second quarter valued at $141,000. Finally, Bruderman Asset Management LLC boosted its stake in shares of Phillips 66 by 3.1% in the second quarter. Bruderman Asset Management LLC now owns 1,850 shares of the company’s stock valued at $147,000 after buying an additional 56 shares during the last quarter. 68.27% of the stock is owned by institutional investors.
Shares of Phillips 66 (NYSE:PSX) traded up 1.43% during mid-day trading on Wednesday, hitting $83.57. 1,752,797 shares of the stock were exchanged. The stock’s 50 day moving average is $81.36 and its 200-day moving average is $79.18. Phillips 66 has a 12 month low of $71.74 and a 12 month high of $93.00. The stock has a market cap of $43.53 billion, a PE ratio of 21.88 and a beta of 1.35.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 28th. The company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.17. Phillips 66 had a net margin of 2.43% and a return on equity of 8.86%. During the same period last year, the firm earned $3.02 earnings per share. On average, analysts anticipate that Phillips 66 will post $3.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Tuesday, November 15th. Phillips 66’s dividend payout ratio (DPR) is presently 66.14%.
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Several equities research analysts have weighed in on the stock. Jefferies Group set a $72.00 price target on shares of Phillips 66 and gave the company a “hold” rating in a research report on Saturday, October 15th. Barclays PLC reaffirmed an “equal weight” rating and issued a $84.00 target price (down from $86.00) on shares of Phillips 66 in a research report on Monday, October 10th. Goldman Sachs Group Inc. raised shares of Phillips 66 from a “sell” rating to a “neutral” rating and raised their target price for the stock from $74.00 to $85.00 in a research report on Thursday, September 29th. Zacks Investment Research raised shares of Phillips 66 from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Finally, Vetr raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $94.28 target price for the company in a research report on Tuesday, September 27th. Fourteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Phillips 66 has an average rating of “Hold” and an average target price of $86.12.
In other Phillips 66 news, VP Lawrence Michael Ziemba sold 72,630 shares of the business’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $80.20, for a total value of $5,824,926.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Berkshire Hathaway Inc bought 1,019,974 shares of Phillips 66 stock in a transaction on Wednesday, September 14th. The stock was purchased at an average price of $77.21 per share, with a total value of $78,752,192.54. The disclosure for this purchase can be found here. 0.05% of the stock is currently owned by corporate insiders.
Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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