Flywheel Private Wealth LLC Makes New $259,000 Investment in Phillips 66 (NYSE:PSX)

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

Other institutional investors also recently made changes to their positions in the company. Mizuho Securities USA LLC grew its holdings in Phillips 66 by 7,549.0% during 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 raised 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 valued at $155,503,000 after buying an additional 653,032 shares in the last quarter. Bank of Montreal Can lifted its holdings in Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after buying an additional 633,970 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of Phillips 66 in the 3rd quarter worth approximately $70,983,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Phillips 66 by 574.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company’s stock valued at $62,545,000 after acquiring an additional 377,314 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Trading Up 1.5 %

Shares of PSX stock opened at $119.04 on Thursday. The stock has a 50-day simple moving average of $122.91 and a 200 day simple moving average of $130.03. The stock has a market capitalization of $49.16 billion, a P/E ratio of 15.28, a P/E/G ratio of 3.17 and a beta of 1.38. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two 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.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.63 EPS. On average, sell-side analysts expect that Phillips 66 will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent research reports. Wolfe Research upgraded 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 note on Friday, January 3rd. Mizuho cut their target price 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. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Scotiabank lowered their price objective on 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. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.