Envestnet Portfolio Solutions Inc. Sells 25,783 Shares of Phillips 66 (NYSE:PSX)

Envestnet Portfolio Solutions Inc. lessened its stake in Phillips 66 (NYSE:PSX) by 37.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PSX. J.Safra Asset Management Corp bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter valued at about $29,000. Pacific Center for Financial Services bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $27,000. Graney & King LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $28,000. Finally, Wood Tarver Financial Group LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $29,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PSX. The Goldman Sachs Group lowered Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a research report on Thursday, March 27th. Morgan Stanley cut their target price on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Raymond James Financial cut their target price on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a research note on Wednesday. Finally, Scotiabank dropped their price target on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.93.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $124.87 on Friday. The company has a market cap 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. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The business has a 50 day moving average price of $112.45 and a 200-day moving average price of $117.24. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) 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 company had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same period last year, the company earned $1.90 earnings per share. Equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $1.20 dividend. The ex-dividend date was Monday, May 19th. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 3.84%. Phillips 66’s dividend payout ratio is 109.34%.

Insider Transactions at Phillips 66

In other news, EVP Brian Mandell sold 9,800 shares of the company’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the transaction, the executive vice president now directly owns 56,838 shares of the company’s stock, valued at $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the acquisition, the director now owns 4,091 shares of the company’s stock, valued at $465,760.35. This represents a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.22% of the company’s stock.

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.