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

Apollon Wealth Management LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 23.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,500 shares of the oil and gas company’s stock after purchasing an additional 2,028 shares during the quarter. Apollon Wealth Management LLC’s holdings in Phillips 66 were worth $1,398,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Signature Resources Capital Management LLC acquired a new position in Phillips 66 during the 4th quarter worth approximately $33,000. Cornerstone Planning Group LLC increased its holdings in Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 151 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Phillips 66 during the 4th quarter worth about $36,000. West Branch Capital LLC boosted its position in shares of Phillips 66 by 49.5% during the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 91 shares in the last quarter. Finally, Bell Investment Advisors Inc increased its holdings in shares of Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 138 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the topic of several recent analyst reports. Piper Sandler increased their price target on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Raymond James boosted their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. The Goldman Sachs Group lifted their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Scotiabank raised their price target on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $157.43.

Phillips 66 Stock Performance

Shares of PSX stock opened at $146.94 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The company has a market cap of $62.30 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The stock has a 50 day simple moving average of $155.48 and a 200-day simple moving average of $138.78.

Phillips 66 (NYSE:PSX) last issued its earnings results 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 analysts’ expectations 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. On average, equities analysts forecast that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.13%. This is an increase 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%.

Insider Buying and Selling

In other news, Director Robert W. Pease acquired 682 shares of Phillips 66 stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now owns 1,900 shares in the company, valued at approximately $278,502. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Pease bought 682 shares of the stock in a transaction on Thursday, February 15th. The stock was purchased at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the purchase, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders have sold a total of 35,056 shares of company stock worth $5,272,681 in the last quarter. Company insiders own 0.22% of the company’s stock.

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.