Sendero Wealth Management LLC Sells 45,861 Shares of Phillips 66 $PSX

Sendero Wealth Management LLC cut its stake in Phillips 66 (NYSE:PSX - Free Report) by 63.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Elliott Investment Management L.P. grew its holdings in shares of Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock worth $1,941,723,000 after acquiring an additional 14,950,000 shares during the period. Valeo Financial Advisors LLC raised its holdings in Phillips 66 by 9,530.9% in the second quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company's stock worth $172,564,000 after purchasing an additional 1,431,450 shares in the last quarter. Nuveen LLC purchased a new position in Phillips 66 during the first quarter valued at $156,482,000. Price T Rowe Associates Inc. MD lifted its position in Phillips 66 by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company's stock valued at $828,442,000 after buying an additional 682,459 shares during the period. Finally, Invesco Ltd. grew its position in shares of Phillips 66 by 15.9% in the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company's stock worth $588,489,000 after buying an additional 653,248 shares during the period. Institutional investors own 76.93% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PSX shares. Zacks Research raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 26th. Citigroup cut Phillips 66 from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. Wells Fargo & Company cut their price target on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Cantor Fitzgerald assumed coverage on Phillips 66 in a research note on Wednesday, June 18th. They set a "neutral" rating for the company. Finally, UBS Group boosted their target price on Phillips 66 from $143.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, Phillips 66 presently has an average rating of "Moderate Buy" and a consensus target price of $140.19.

Phillips 66 Price Performance

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

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same quarter last year, the company earned $2.31 EPS. As a group, research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

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

Insider Activity at Phillips 66

In related news, Director Sigmund L. Cornelius acquired 500 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the transaction, the director directly owned 21,543 shares in the company, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm's 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 sale, the executive vice president owned 34,587 shares in the company, valued at $4,842,180. This represents a 11.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 9,850 shares of company stock worth $1,188,910 and have sold 13,179 shares worth $1,779,165. Company insiders own 0.22% of the company's stock.

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.

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