Forza Wealth Management LLC Boosts Stake in Phillips 66 (NYSE:PSX)

Forza Wealth Management LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 11.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,185 shares of the oil and gas company’s stock after buying an additional 221 shares during the quarter. Forza Wealth Management LLC’s holdings in Phillips 66 were worth $249,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Advisory Alpha LLC grew its stake in 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 in the last quarter. Krane Funds Advisors LLC lifted its holdings in Phillips 66 by 3.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after buying an additional 82 shares during the last quarter. Richwood Investment Advisors LLC grew its position 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 worth $602,000 after acquiring an additional 85 shares in the last quarter. Cobblestone Capital Advisors LLC NY increased its holdings in shares of Phillips 66 by 0.5% in 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 raised its position in shares of Phillips 66 by 1.6% during the 3rd quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock valued at $773,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock traded up $2.30 during midday trading on Monday, hitting $116.23. The company’s stock had a trading volume of 2,310,924 shares, compared to its average volume of 2,738,675. The stock’s 50-day moving average price is $123.10 and its 200-day moving average price is $130.36. The company has a market capitalization of $48.00 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.63 earnings per share. Analysts anticipate that Phillips 66 will post 7.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PSX has been the subject of several recent research reports. UBS Group lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Mizuho dropped their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Wells Fargo & Company dropped 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. Finally, Piper Sandler set a $144.00 price objective on Phillips 66 in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 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.