Envestnet Portfolio Solutions Inc. Sells 257 Shares of Phillips 66 (NYSE:PSX)

Envestnet Portfolio Solutions Inc. decreased its position in shares of Phillips 66 (NYSE:PSX) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,910 shares of the oil and gas company’s stock after selling 257 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Phillips 66 were worth $7,851,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PSX. Raymond James Financial Inc. acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $168,790,000. Amundi grew its position in Phillips 66 by 25.7% in the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock valued at $428,081,000 after purchasing an additional 753,653 shares during the period. Bank of New York Mellon Corp grew its position in Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after purchasing an additional 639,323 shares during the period. Bank of Montreal Can boosted its holdings in Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after acquiring an additional 633,970 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new position in Phillips 66 during the 3rd quarter worth $34,042,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 2.0 %

Shares of NYSE PSX opened at $129.27 on Tuesday. Phillips 66 has a 12 month low of $108.91 and a 12 month high of $174.08. 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 market capitalization of $52.70 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 4.84 and a beta of 1.31. The business has a 50-day moving average of $123.11 and a 200-day moving average of $125.85.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS 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 period in the previous year, the business posted $3.09 EPS. Sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

Analysts Set New Price Targets

A number of research firms have issued reports on PSX. Barclays lifted their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Wells Fargo & Company lifted their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.43.

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.