Sendero Wealth Management LLC Has $5.32 Million Stock Position in Phillips 66 (NYSE:PSX)

Sendero Wealth Management LLC increased its holdings in shares of Phillips 66 (NYSE:PSXFree Report) by 25.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,501 shares of the oil and gas company’s stock after purchasing an additional 8,098 shares during the quarter. Phillips 66 accounts for 0.8% of Sendero Wealth Management LLC’s holdings, making the stock its 26th biggest position. Sendero Wealth Management LLC’s holdings in Phillips 66 were worth $5,324,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PSX. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth about $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 during the 1st quarter worth $26,000. Redmont Wealth Advisors LLC bought a new position in Phillips 66 in the first quarter valued at approximately $28,000. Ruedi Wealth Management Inc. lifted its stake in Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 96 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 during the fourth quarter valued at about $27,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX traded up $2.03 on Thursday, reaching $136.75. The company’s stock had a trading volume of 380,933 shares, compared to its average volume of 2,709,893. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The stock has a market capitalization of $57.98 billion, a P/E ratio of 10.36, a PEG ratio of 5.46 and a beta of 1.33. The stock’s 50 day simple moving average is $133.28 and its two-hundred day simple moving average is $141.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSXGet Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. Phillips 66’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.87 EPS. Research analysts forecast that Phillips 66 will post 8.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

PSX has been the subject of several research analyst reports. Mizuho lowered their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Barclays dropped their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a report on Tuesday. Morgan Stanley cut their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Scotiabank reduced their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. reduced their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $151.86.

Check Out Our Latest Report on PSX

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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