Apollon Wealth Management LLC Increases Stock Position in Phillips 66 (NYSE:PSX)

Apollon Wealth Management LLC grew its position in shares of Phillips 66 (NYSE:PSX) by 23.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,500 shares of the oil and gas company’s stock after purchasing an additional 2,028 shares during the period. Apollon Wealth Management LLC’s holdings in Phillips 66 were worth $1,398,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its position in shares of Phillips 66 by 12.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after acquiring an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth about $10,402,000. Choate Investment Advisors purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at about $247,000. First Dallas Securities Inc. bought a new position in shares of Phillips 66 in the 3rd quarter valued at about $753,000. Finally, TIAA Trust National Association grew its position in Phillips 66 by 32.9% in the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after acquiring an additional 3,670 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Pease purchased 682 shares of Phillips 66 stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 over the last quarter. 0.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on PSX. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday. Barclays lowered their target price on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Piper Sandler raised their price target on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Mizuho lowered their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Finally, Bank of America raised their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $157.43.

Phillips 66 Stock Up 1.2 %

PSX stock opened at $146.94 on Thursday. The stock has a market capitalization of $62.30 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $155.48 and a 200 day moving average of $138.78.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter in the previous year, the firm posted $4.21 earnings per share. Sell-side analysts forecast that Phillips 66 will post 13.17 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.13%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is presently 32.31%.

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.