Apollon Wealth Management LLC Reduces Holdings in Phillips 66 (NYSE:PSX)

Apollon Wealth Management LLC trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,169 shares of the oil and gas company’s stock after selling 1,608 shares during the period. Apollon Wealth Management LLC’s holdings in Phillips 66 were worth $1,468,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Phillips 66 by 10.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 58,808 shares of the oil and gas company’s stock worth $9,606,000 after acquiring an additional 5,690 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in Phillips 66 by 13.0% during the first quarter. Orion Portfolio Solutions LLC now owns 17,456 shares of the oil and gas company’s stock worth $2,851,000 after acquiring an additional 2,009 shares during the last quarter. Banco Santander S.A. acquired a new stake in Phillips 66 during the first quarter worth approximately $937,000. Pinkerton Retirement Specialists LLC boosted its position in Phillips 66 by 12.5% during the first quarter. Pinkerton Retirement Specialists LLC now owns 29,836 shares of the oil and gas company’s stock worth $4,873,000 after acquiring an additional 3,318 shares during the last quarter. Finally, First Foundation Advisors boosted its position in Phillips 66 by 8.4% during the first quarter. First Foundation Advisors now owns 4,786 shares of the oil and gas company’s stock worth $782,000 after acquiring an additional 372 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 0.1 %

PSX stock opened at $129.76 on Friday. The company has a market capitalization of $53.59 billion, a P/E ratio of 16.66, a PEG ratio of 4.18 and a beta of 1.33. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a twelve month low of $111.90 and a twelve month high of $174.08. The firm has a 50 day simple moving average of $129.68 and a 200-day simple moving average of $136.00.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $4.63 earnings per share. On average, equities research analysts predict that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Wall Street Analyst Weigh In

PSX has been the topic of a number of analyst reports. Wolfe Research initiated coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. decreased their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a report on Thursday, October 17th. TD Cowen decreased their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Morgan Stanley decreased their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

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.