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

Orca Wealth Management LLC bought a new position in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 12,137 shares of the oil and gas company’s stock, valued at approximately $1,383,000. Phillips 66 comprises 1.2% of Orca Wealth Management LLC’s investment portfolio, making the stock its 28th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in shares of Phillips 66 during the 3rd quarter worth $26,000. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 in the third quarter valued at about $30,000. Webster Bank N. A. increased its stake in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 88 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Phillips 66 in the third quarter valued at about $40,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $47,000. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on PSX. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Scotiabank cut their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company dropped their price objective on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, 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 objective for the company. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Price Performance

NYSE PSX opened at $121.13 on Wednesday. The business’s fifty day moving average price is $121.46 and its 200-day moving average price is $128.94. The stock has a market capitalization of $50.02 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 3.78 and a beta of 1.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last announced 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. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the firm earned $4.63 EPS. Phillips 66’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, equities analysts predict that Phillips 66 will post 6.41 earnings per share for the current year.

Phillips 66 Company 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.