Envestnet Portfolio Solutions Inc. Cuts Stake in Phillips 66 (NYSE:PSX)

Envestnet Portfolio Solutions Inc. lowered its position in Phillips 66 (NYSE:PSX) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hills Bank & Trust Co boosted its stake in Phillips 66 by 7.4% in the fourth quarter. Hills Bank & Trust Co now owns 3,643 shares of the oil and gas company’s stock worth $415,000 after buying an additional 252 shares in the last quarter. Intact Investment Management Inc. purchased a new stake in Phillips 66 in the fourth quarter worth approximately $68,000. LBP AM SA boosted its stake in Phillips 66 by 217.9% in the fourth quarter. LBP AM SA now owns 68,923 shares of the oil and gas company’s stock worth $7,852,000 after buying an additional 47,242 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in Phillips 66 by 8.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 3,222 shares of the oil and gas company’s stock worth $367,000 after buying an additional 248 shares in the last quarter. Finally, Impact Capital Partners LLC purchased a new stake in Phillips 66 in the fourth quarter worth approximately $744,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $129.27 on Tuesday. The business has a 50 day moving average of $123.11 and a 200 day moving average of $125.85. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market cap of $52.70 billion, a PE ratio of 26.17, a P/E/G ratio of 4.84 and a beta of 1.31. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company posted $3.09 earnings per share. As a group, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

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

Analysts Set New Price Targets

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

Phillips 66 Company 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.