Sendero Wealth Management LLC Reduces Stock Holdings in Phillips 66 $PSX

Sendero Wealth Management LLC lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 63.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,790 shares of the oil and gas company’s stock after selling 45,861 shares during the quarter. Sendero Wealth Management LLC’s holdings in Phillips 66 were worth $3,196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC grew its position in Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after buying an additional 7,214 shares during the period. NBC Securities Inc. boosted its stake in shares of Phillips 66 by 155,700.0% during the 1st quarter. NBC Securities Inc. now owns 1,558 shares of the oil and gas company’s stock worth $192,000 after acquiring an additional 1,557 shares during the last quarter. Sovereign Financial Group Inc. bought a new stake in shares of Phillips 66 during the 1st quarter valued at $212,000. Independence Bank of Kentucky increased its stake in shares of Phillips 66 by 4.1% in the 1st quarter. Independence Bank of Kentucky now owns 3,451 shares of the oil and gas company’s stock worth $426,000 after purchasing an additional 137 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its holdings in Phillips 66 by 11.3% in the 1st quarter. Gateway Investment Advisers LLC now owns 11,836 shares of the oil and gas company’s stock worth $1,462,000 after purchasing an additional 1,200 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Hayes purchased 8,350 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the acquisition, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 9,850 shares of company stock valued at $1,188,910 and sold 13,179 shares valued at $1,779,165. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Down 1.3%

NYSE PSX opened at $133.14 on Monday. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The stock has a market cap of $53.80 billion, a PE ratio of 32.00, a P/E/G ratio of 1.91 and a beta of 1.11. The stock’s 50 day moving average is $128.89 and its 200 day moving average is $120.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion for the quarter, compared to analysts’ expectations of $32.11 billion. During the same quarter last year, the business posted $2.31 earnings per share. Research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66’s payout ratio is 115.38%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Piper Sandler boosted their price target on Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Wells Fargo & Company lowered their price objective on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 11th. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Evercore ISI raised their target price on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Finally, Mizuho upped their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $140.19.

Phillips 66 Profile

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.