Envestnet Asset Management Inc. Sells 136,291 Shares of Phillips 66 (NYSE:PSX)

Envestnet Asset Management Inc. decreased its stake in Phillips 66 (NYSE:PSX) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,729,552 shares of the oil and gas company’s stock after selling 136,291 shares during the period. Envestnet Asset Management Inc.’s holdings in Phillips 66 were worth $197,048,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Phillips 66 in the fourth quarter valued at about $497,648,000. Raymond James Financial Inc. acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $168,790,000. Amundi raised its holdings 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 buying an additional 753,653 shares during the last quarter. National Bank of Canada FI boosted its position in Phillips 66 by 166.7% during the 4th quarter. National Bank of Canada FI now owns 1,134,582 shares of the oil and gas company’s stock worth $129,266,000 after buying an additional 709,219 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after acquiring an additional 639,323 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $98.65 on Monday. 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’s 50-day moving average price is $124.24 and its 200-day moving average price is $125.09. The firm has a market capitalization of $40.22 billion, a P/E ratio of 19.97, a P/E/G ratio of 4.84 and a beta of 1.17. Phillips 66 has a 1-year low of $95.67 and a 1-year high of $171.41.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (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 prior year, the business posted $3.09 earnings per share. Equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s payout ratio is currently 93.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PSX shares. Barclays lifted their price target on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Wells Fargo & Company increased their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target on the stock. in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $146.43.

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.