Forza Wealth Management LLC Has $249,000 Holdings in Phillips 66 (NYSE:PSX)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in PSX. Van ECK Associates Corp boosted its stake in Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after purchasing an additional 60,355 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $3,033,000. Mizuho Securities USA LLC grew its stake in shares of 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 worth $328,625,000 after acquiring an additional 2,467,316 shares during the last quarter. Nwam LLC bought a new position in Phillips 66 during the third quarter worth $498,000. Finally, Principal Financial Group Inc. raised its stake in Phillips 66 by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock valued at $69,775,000 after purchasing an additional 14,209 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSX has been the topic of several research analyst reports. Scotiabank decreased their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Bank of America began coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. UBS Group reduced their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Piper Sandler set a $144.00 target price on Phillips 66 in a research note on Thursday, October 17th. Finally, Mizuho decreased their price target 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. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Price Performance

PSX stock traded up $2.30 during midday trading on Monday, reaching $116.23. 2,310,924 shares of the company’s stock traded hands, compared to its average volume of 2,738,675. The company has a 50-day simple moving average of $123.10 and a two-hundred day simple moving average of $130.36. 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 1-year low of $108.90 and a 1-year high of $174.08. The company has a market cap of $48.00 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 4.06 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last announced its earnings results 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 company had revenue of $36.16 billion during 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 company’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $4.63 earnings per share. On average, analysts anticipate that Phillips 66 will post 7.56 earnings per share for the current year.

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.