Corient Private Wealth LLC Has $91.55 Million Stock Position in Phillips 66 $PSX

Corient Private Wealth LLC reduced its position in Phillips 66 (NYSE:PSX) by 14.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 767,416 shares of the oil and gas company’s stock after selling 129,568 shares during the period. Corient Private Wealth LLC owned about 0.19% of Phillips 66 worth $91,553,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PSX. WealthTrust Axiom LLC grew its position in Phillips 66 by 1.1% during the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock worth $894,000 after purchasing an additional 81 shares in the last quarter. Wolff Wiese Magana LLC boosted its position in shares of Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares during the period. Magnus Financial Group LLC grew its holdings in shares of Phillips 66 by 2.8% during the second quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after buying an additional 84 shares in the last quarter. Biltmore Wealth Management LLC raised its position in Phillips 66 by 2.4% during the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock valued at $431,000 after buying an additional 85 shares during the period. Finally, XML Financial LLC raised its position in Phillips 66 by 0.5% during the second quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock valued at $2,093,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PSX shares. Wall Street Zen upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Morgan Stanley increased their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. Cowen reissued a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. Finally, UBS Group reaffirmed a “buy” rating and issued a $160.00 price target on shares of Phillips 66 in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $148.35.

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 26,200 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the completion of the sale, the executive vice president owned 56,838 shares of the company’s stock, valued at $7,825,455.84. The trade was a 31.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 86,093 shares of company stock valued at $11,933,256. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

PSX stock opened at $141.69 on Tuesday. The firm has a 50 day moving average of $135.84 and a two-hundred day moving average of $129.66. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $144.96. The company has a market capitalization of $57.09 billion, a price-to-earnings ratio of 38.71, a P/E/G ratio of 0.74 and a beta of 0.92. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.38. The business had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. During the same quarter in the previous year, the business earned $2.04 EPS. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, November 17th. Phillips 66’s dividend payout ratio is 131.15%.

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.