Apollon Wealth Management LLC Has $1.81 Million Stock Holdings in Phillips 66 $PSX

Apollon Wealth Management LLC raised its position in Phillips 66 (NYSE:PSX) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,126 shares of the oil and gas company’s stock after buying an additional 652 shares during the quarter. Apollon Wealth Management LLC’s holdings in Phillips 66 were worth $1,805,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WealthTrust Axiom LLC grew its holdings in Phillips 66 by 1.1% in the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after buying an additional 81 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares in the last quarter. Magnus Financial Group LLC grew its holdings in shares of Phillips 66 by 2.8% during the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock worth $368,000 after purchasing an additional 84 shares in the last quarter. Biltmore Wealth Management LLC grew its holdings in shares of Phillips 66 by 2.4% during the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock worth $431,000 after purchasing an additional 85 shares in the last quarter. Finally, XML Financial LLC grew its holdings in shares of Phillips 66 by 0.5% during the 2nd quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock worth $2,093,000 after purchasing an additional 85 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory Hayes acquired 8,350 shares of the stock in a transaction dated Thursday, August 14th. The shares were bought at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the transaction, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 9,850 shares of company stock valued at $1,188,910 over the last three months. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $129.82 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $52.46 billion, a PE ratio of 31.21, a P/E/G ratio of 1.86 and a beta of 1.11. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The stock has a 50-day moving average price of $129.67 and a two-hundred day moving average price of $120.61.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period last year, the company earned $2.31 earnings per share. Analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.7%. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PSX shares. TD Cowen increased their target price on Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Cantor Fitzgerald started coverage on Phillips 66 in a report on Wednesday, June 18th. They set a “neutral” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Compass Point began coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued a “buy” rating on the stock. Finally, Citigroup lowered Phillips 66 from a “buy” rating to a “neutral” rating and raised their price objective for the company from $126.00 to $130.00 in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.75.

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.