Orca Wealth Management LLC Makes New Investment in Phillips 66 (NYSE:PSX)

Orca Wealth Management LLC acquired a new position in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 12,137 shares of the oil and gas company’s stock, valued at approximately $1,383,000. Phillips 66 comprises about 1.2% of Orca Wealth Management LLC’s holdings, making the stock its 28th biggest position.

A number of other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in 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. Mizuho Securities USA LLC raised its holdings in Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after buying an additional 2,467,316 shares during the period. Bank of Montreal Can raised 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 buying an additional 633,970 shares during the period. ING Groep NV raised its holdings in Phillips 66 by 123.2% in 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 during the period. Finally, National Pension Service raised its holdings in Phillips 66 by 6.8% in the third quarter. National Pension Service now owns 1,001,734 shares of the oil and gas company’s stock valued at $131,678,000 after buying an additional 63,349 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $121.13 on Wednesday. The business’s 50-day simple moving average is $121.46 and its 200 day simple moving average is $128.94. The stock has a market cap of $50.02 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 3.78 and a beta of 1.38. Phillips 66 has a 12-month low of $108.90 and a 12-month 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 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. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter last year, the business earned $4.63 earnings per share. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, research analysts anticipate that Phillips 66 will post 6.41 earnings per share for the current year.

Analysts Set New Price Targets

PSX has been the topic of several research reports. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Barclays decreased their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. Bank of America began coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price 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.