Sendero Wealth Management LLC Has $8.97 Million Stake in Phillips 66 (NYSE:PSX)

Sendero Wealth Management LLC raised its holdings in Phillips 66 (NYSE:PSX - Free Report) by 219.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,651 shares of the oil and gas company's stock after purchasing an additional 49,905 shares during the period. Phillips 66 makes up about 1.2% of Sendero Wealth Management LLC's portfolio, making the stock its 19th largest holding. Sendero Wealth Management LLC's holdings in Phillips 66 were worth $8,971,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Bogart Wealth LLC grew its holdings in shares of Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 120 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in Phillips 66 during the fourth quarter worth about $25,000. Pacific Center for Financial Services bought a new position in Phillips 66 in the 4th quarter valued at about $27,000. Stephens Consulting LLC raised its position in shares of Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock valued at $28,000 after buying an additional 111 shares in the last quarter. Finally, Graney & King LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Trading Up 1.8%

PSX traded up $2.05 during trading on Friday, reaching $114.28. 1,174,342 shares of the company's stock were exchanged, compared to its average volume of 3,009,781. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a one year low of $91.01 and a one year high of $150.12. The firm has a fifty day moving average price of $108.42 and a two-hundred day moving average price of $118.13. The stock has a market capitalization of $46.56 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the firm earned $1.90 EPS. As a group, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $1.20 dividend. This is a boost from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 4.20%. Phillips 66's dividend payout ratio is presently 109.34%.

Insider Transactions at Phillips 66

In related news, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director now directly owns 4,091 shares of the company's stock, valued at approximately $465,760.35. The trade was a 12.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PSX has been the subject of several research analyst reports. Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Scotiabank dropped their price objective on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 29th. TD Cowen boosted their target price on Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Finally, Morgan Stanley reduced their price target on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $135.62.

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.