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

Apollon Wealth Management LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 24.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 13,866 shares of the oil and gas company’s stock after acquiring an additional 2,697 shares during the period. Apollon Wealth Management LLC’s holdings in Phillips 66 were worth $1,580,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Cidel Asset Management Inc. lifted its stake in shares of Phillips 66 by 5.4% in the 4th quarter. Cidel Asset Management Inc. now owns 6,571 shares of the oil and gas company’s stock valued at $749,000 after purchasing an additional 338 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Phillips 66 in the fourth quarter valued at approximately $77,000. Archer Investment Corp lifted its position in Phillips 66 by 222.6% during the fourth quarter. Archer Investment Corp now owns 5,074 shares of the oil and gas company’s stock valued at $578,000 after buying an additional 3,501 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Phillips 66 by 8.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,297 shares of the oil and gas company’s stock worth $5,502,000 after buying an additional 3,915 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Phillips 66 in the fourth quarter worth $2,301,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 2.9 %

PSX stock opened at $123.74 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a 50 day simple moving average of $119.29 and a 200-day simple moving average of $127.79. The company has a market capitalization of $51.10 billion, a P/E ratio of 25.05, a PEG ratio of 5.64 and a beta of 1.37. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter last year, the business earned $3.09 EPS. On average, equities research analysts predict that Phillips 66 will post 7.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PSX shares. Mizuho reduced their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. UBS Group reduced their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Bank of America initiated coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $148.00.

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.