Phillips 66 (NYSE:PSX) Stake Reduced by Apollon Wealth Management LLC

Apollon Wealth Management LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 12.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,169 shares of the oil and gas company’s stock after selling 1,608 shares during the quarter. Apollon Wealth Management LLC’s holdings in Phillips 66 were worth $1,468,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new position in shares of Phillips 66 in the first quarter worth $25,000. Strategic Financial Concepts LLC bought a new position in shares of Phillips 66 in the second quarter worth $26,000. nVerses Capital LLC bought a new position in shares of Phillips 66 in the third quarter worth $26,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 in the third quarter worth $30,000. Finally, Bank & Trust Co bought a new position in shares of Phillips 66 in the second quarter worth $31,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Performance

Shares of PSX stock opened at $129.76 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a market cap of $53.59 billion, a P/E ratio of 16.66, a PEG ratio of 4.18 and a beta of 1.33. The stock’s 50-day moving average is $129.68 and its two-hundred day moving average is $136.00. Phillips 66 has a fifty-two week low of $111.90 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the company earned $4.63 EPS. 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 announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.55%. Phillips 66’s dividend payout ratio (DPR) is currently 59.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Barclays cut their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday. UBS Group cut their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. TD Cowen cut their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Wells Fargo & Company cut their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.