Envestnet Asset Management Inc. Grows Holdings in Phillips 66 (NYSE:PSX)

Envestnet Asset Management Inc. grew its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,762,512 shares of the oil and gas company's stock after buying an additional 32,960 shares during the quarter. Envestnet Asset Management Inc. owned 0.43% of Phillips 66 worth $217,635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Phillips 66 by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock worth $968,844,000 after purchasing an additional 82,758 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after purchasing an additional 4,455,220 shares during the last quarter. Northern Trust Corp boosted its holdings in Phillips 66 by 10.6% during the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock worth $522,834,000 after purchasing an additional 440,107 shares during the last quarter. Norges Bank purchased a new position in Phillips 66 during the fourth quarter worth about $497,648,000. Finally, Invesco Ltd. boosted its holdings in Phillips 66 by 9.2% during the fourth quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company's stock worth $468,551,000 after purchasing an additional 347,905 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of NYSE PSX traded up $2.78 during midday trading on Thursday, hitting $133.29. The company's stock had a trading volume of 787,221 shares, compared to its average volume of 3,551,320. The stock has a fifty day moving average price of $118.36 and a 200 day moving average price of $117.43. Phillips 66 has a one year low of $91.01 and a one year high of $150.12. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $54.31 billion, a price-to-earnings ratio of 30.36, a P/E/G ratio of 2.04 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same period in the prior year, the firm posted $1.90 EPS. On average, research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 3.60%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's payout ratio is currently 109.34%.

Insider Activity at Phillips 66

In related news, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president owned 56,838 shares of the company's stock, valued at approximately $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Pease purchased 439 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the purchase, the director owned 4,091 shares in the company, valued at approximately $465,760.35. This represents a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PSX has been the topic of several analyst reports. Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a "neutral" rating on the stock. TD Cowen lifted their price objective on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Scotiabank lowered their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Compass Point initiated coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a "buy" rating on the stock. Finally, The Goldman Sachs Group lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective on the stock. in a research report on Thursday, March 27th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $135.07.

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.