Envestnet Asset Management Inc. Has $197.05 Million Stake in Phillips 66 (NYSE:PSX)

Envestnet Asset Management Inc. reduced its holdings in Phillips 66 (NYSE:PSX) by 7.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. 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. owned 0.42% of Phillips 66 worth $197,048,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Resona Asset Management Co. Ltd. acquired a new position in Phillips 66 during the fourth quarter valued at approximately $15,203,000. Smith Moore & CO. raised its stake in shares of Phillips 66 by 0.9% during the 4th quarter. Smith Moore & CO. now owns 10,732 shares of the oil and gas company’s stock worth $1,223,000 after purchasing an additional 91 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of Phillips 66 by 6.3% in the 4th quarter. Thoroughbred Financial Services LLC now owns 11,029 shares of the oil and gas company’s stock valued at $1,256,000 after buying an additional 655 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Phillips 66 by 95.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 6,374 shares of the oil and gas company’s stock valued at $726,000 after buying an additional 3,119 shares in the last quarter. Finally, Uniting Wealth Partners LLC acquired a new position in Phillips 66 during the fourth quarter worth $387,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Down 8.0 %

Shares of PSX stock opened at $98.65 on Monday. The stock has a market cap of $40.22 billion, a P/E ratio of 19.97, a price-to-earnings-growth 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. 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 stock has a 50 day simple moving average of $124.24 and a 200 day simple moving average of $125.09.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the company earned $3.09 EPS. On average, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have commented on PSX shares. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company lifted their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Finally, Mizuho cut their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.43.

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.