Envestnet Asset Management Inc. Sells 282,287 Shares of Phillips 66 $PSX

Envestnet Asset Management Inc. cut its holdings in Phillips 66 (NYSE:PSX) by 17.0% in the third quarter, HoldingsChannel reports. The firm owned 1,375,730 shares of the oil and gas company’s stock after selling 282,287 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Phillips 66 were worth $187,127,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PSX. Brighton Jones LLC increased its holdings in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after buying an additional 7,214 shares during the last quarter. Woodline Partners LP grew its position in Phillips 66 by 40.7% in the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after acquiring an additional 10,089 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Phillips 66 by 93.3% during the second quarter. Robeco Institutional Asset Management B.V. now owns 3,551 shares of the oil and gas company’s stock worth $424,000 after acquiring an additional 1,714 shares during the last quarter. DAVENPORT & Co LLC raised its position in Phillips 66 by 6.8% during the second quarter. DAVENPORT & Co LLC now owns 25,678 shares of the oil and gas company’s stock valued at $3,063,000 after purchasing an additional 1,639 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in shares of Phillips 66 by 22.0% in the 2nd quarter. Venturi Wealth Management LLC now owns 4,949 shares of the oil and gas company’s stock valued at $590,000 after purchasing an additional 891 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, EVP Brian Mandell sold 25,500 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $140.04, for a total value of $3,571,020.00. Following the completion of the transaction, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,959,593.52. This trade represents a 30.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the transaction, the executive vice president owned 25,799 shares of the company’s stock, valued at $3,869,850. This trade represents a 14.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 60,488 shares of company stock valued at $8,474,466 over the last quarter. 0.22% of the stock is owned by company insiders.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $154.19 on Friday. The firm has a 50 day moving average of $138.06 and a 200 day moving average of $133.47. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $62.13 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 0.56 and a beta of 0.90. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $155.99.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. The business had revenue of $32.16 billion during the quarter, compared to analyst estimates of $33.81 billion. During the same period in the prior year, the firm posted ($0.15) earnings per share. On average, sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PSX. TD Cowen boosted their price objective on shares of Phillips 66 from $145.00 to $151.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. UBS Group reiterated a “buy” rating on shares of Phillips 66 in a report on Tuesday, January 6th. BMO Capital Markets raised their price objective on shares of Phillips 66 from $152.00 to $160.00 in a research note on Tuesday, November 11th. Citigroup boosted their target price on Phillips 66 from $137.00 to $146.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Finally, Wolfe Research increased their price target on Phillips 66 from $159.00 to $164.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $155.12.

Trending Headlines about Phillips 66

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Q4 earnings beat — Phillips 66 reported non?GAAP EPS of $2.47 versus $2.15 expected, driven by higher refining utilization and rebounding margins; management highlighted strong cash flow and improving refining demand. Read More.
• Positive Sentiment: Broker upgrade — Wells Fargo raised its price target to $163 and kept an “overweight” rating, signaling upside vs. recent levels (supports near?term bullish case). Read More.
• Neutral Sentiment: Insider sale disclosed — EVP Vanessa Allen Sutherland sold 4,394 shares at about $150 (reducing her stake ~14.6%). Insider selling can be routine but can also add slight selling pressure or investor attention. Read More.
• Negative Sentiment: Los Angeles refinery shutdown and layoffs — Bloomberg/Reuters report the company will close operations at its sole remaining California refinery and plans to lay off roughly half the site’s workforce, potentially reducing throughput, generating closure costs or write?downs, and harming regional earnings visibility. Read More.
• Negative Sentiment: Mixed analyst signals — Morgan Stanley lifted its target to $147 but kept an “equal weight” stance; that target sits below current levels, representing downside risk relative to the market price. Read More.

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.