Phillips 66 $PSX Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Phillips 66 (NYSE:PSX) by 31.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,997 shares of the oil and gas company’s stock after selling 12,504 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Phillips 66 were worth $3,672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Vanguard Group Inc. increased its holdings in Phillips 66 by 14.8% during the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after purchasing an additional 5,978,841 shares during the period. Elliott Investment Management L.P. grew its position in shares of Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after buying an additional 3,526,000 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Phillips 66 by 17.4% during the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after buying an additional 1,532,967 shares during the period. Bank of New York Mellon Corp raised its holdings in Phillips 66 by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock valued at $1,120,794,000 after acquiring an additional 537,245 shares in the last quarter. Finally, Norges Bank purchased a new position in Phillips 66 in the second quarter worth approximately $523,755,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PSX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a research report on Thursday. Scotiabank reissued a “sector perform” rating and issued a $140.00 target price on shares of Phillips 66 in a report on Friday, January 16th. BMO Capital Markets raised their price target on Phillips 66 from $152.00 to $160.00 in a research note on Tuesday, November 11th. Wolfe Research upped their price objective on Phillips 66 from $158.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Finally, Jefferies Financial Group increased their price objective on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Hold” and an average target price of $153.53.

Phillips 66 Trading Down 0.3%

Shares of Phillips 66 stock opened at $141.51 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. The company has a market capitalization of $57.02 billion, a P/E ratio of 38.66, a PEG ratio of 0.40 and a beta of 0.90. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $146.88. The company’s fifty day moving average is $136.13 and its two-hundred day moving average is $132.45.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. The business had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. During the same quarter in the prior year, the firm earned $2.04 earnings per share. Analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Insiders Place Their Bets

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $145.00, for a total value of $637,130.00. Following the transaction, the executive vice president directly owned 30,193 shares in the company, valued at approximately $4,377,985. This trade represents a 12.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the sale, the chief financial officer owned 89,771 shares of the company’s stock, valued at $12,388,398. This trade represents a 25.05% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 86,094 shares of company stock valued at $11,955,366. 0.22% of the stock is owned by company insiders.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.