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

Envestnet Portfolio Solutions Inc. decreased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 37.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,127 shares of the oil and gas company's stock after selling 25,783 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Phillips 66 were worth $5,325,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PSX. Price T Rowe Associates Inc. MD boosted its stake in shares of Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after purchasing an additional 4,455,220 shares during the period. Norges Bank acquired a new stake in Phillips 66 during the 4th quarter worth approximately $497,648,000. Raymond James Financial Inc. acquired a new stake in Phillips 66 during the 4th quarter worth approximately $168,790,000. Capitolis Liquid Global Markets LLC purchased a new position in Phillips 66 in the 4th quarter valued at approximately $142,185,000. Finally, GAMMA Investing LLC grew its stake in shares of Phillips 66 by 14,119.5% in the first quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company's stock worth $146,893,000 after acquiring an additional 1,181,240 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the sale, the executive vice president now owns 56,838 shares of the company's stock, valued at $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 this hyperlink. Also, Director Robert W. Pease purchased 439 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the purchase, the director now owns 4,091 shares of the company's stock, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.22% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PSX. Barclays lifted their target price on Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Mizuho increased their price target on Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Evercore ISI assumed coverage on Phillips 66 in a research report on Wednesday. They set an "outperform" rating and a $130.00 price objective for the company. UBS Group cut their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Finally, The Goldman Sachs Group cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price on the stock. in a report on Thursday, March 27th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $133.93.

Phillips 66 Stock Up 0.0%

NYSE:PSX traded up $0.05 during midday trading on Friday, hitting $124.87. 8,493,805 shares of the company were exchanged, compared to its average volume of 3,075,461. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The company has a market capitalization of $50.88 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02. 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 company has a fifty day simple moving average of $112.45 and a 200 day simple moving average of $117.14.

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) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The firm had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. During the same period in the previous year, the business posted $1.90 EPS. As a group, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, May 19th. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.84%. Phillips 66's dividend payout ratio (DPR) is 109.34%.

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.