Flywheel Private Wealth LLC Acquires Shares of 2,273 Phillips 66 (NYSE:PSX)

Flywheel Private Wealth LLC acquired a new stake in Phillips 66 (NYSE:PSX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,273 shares of the oil and gas company’s stock, valued at approximately $259,000.

Several other institutional investors have also modified their holdings of the company. Legal & General Group Plc raised its stake in Phillips 66 by 0.5% in the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after buying an additional 18,238 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Phillips 66 by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock valued at $381,453,000 after acquiring an additional 16,941 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Phillips 66 by 2.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock worth $397,193,000 after acquiring an additional 79,301 shares in the last quarter. Mizuho Securities USA LLC lifted its stake in Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in Phillips 66 by 63.4% in the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after purchasing an additional 633,970 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of PSX opened at $119.04 on Thursday. The firm has a market capitalization of $49.16 billion, a PE ratio of 15.28, a P/E/G ratio of 3.17 and a beta of 1.38. The stock’s 50 day moving average is $122.91 and its two-hundred day moving average is $130.03. Phillips 66 has a twelve month low of $108.90 and a twelve month 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.

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, topping analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.63 earnings per share. Research analysts anticipate that Phillips 66 will post 7.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of research analyst reports. Mizuho cut their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Barclays cut their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday. Scotiabank reduced their price target 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. UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $147.93.

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.