Sendero Wealth Management LLC Raises Stock Position in Phillips 66 (NYSE:PSX)

Sendero Wealth Management LLC lifted its position in Phillips 66 (NYSE:PSX) by 219.4% in the first quarter, according to its most recent Form 13F filing with the SEC. 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 accounts for about 1.2% of Sendero Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position. Sendero Wealth Management LLC’s holdings in Phillips 66 were worth $8,971,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Forum Financial Management LP raised its holdings in shares of Phillips 66 by 1.0% in the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company’s stock valued at $853,000 after purchasing an additional 77 shares in the last quarter. NewEdge Wealth LLC raised its stake in Phillips 66 by 0.5% in the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock valued at $1,732,000 after buying an additional 81 shares in the last quarter. JBR Co Financial Management Inc raised its stake in Phillips 66 by 0.9% in the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock valued at $1,085,000 after buying an additional 85 shares in the last quarter. Nwam LLC lifted its holdings in Phillips 66 by 2.2% during the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock worth $442,000 after buying an additional 85 shares during the last quarter. Finally, PFG Private Wealth Management LLC boosted its position in shares of Phillips 66 by 7.7% during the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robert W. Pease purchased 439 shares of the stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average cost of $113.85 per share, with a total value of $49,980.15. Following the purchase, the director now directly owns 4,091 shares in the company, valued at $465,760.35. This trade represents a 12.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.22% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $115.97 on Wednesday. The stock has a fifty day moving average price of $108.84 and a 200 day moving average price of $118.30. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market cap of $47.25 billion, a PE ratio of 23.48, a P/E/G ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the company posted $1.90 EPS. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Monday, May 19th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s payout ratio is currently 109.34%.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent analyst reports. Tudor Pickering cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 22nd. UBS Group reduced their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 28th. The Goldman Sachs Group cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a report on Thursday, March 27th. Mizuho lifted their price target on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Finally, TD Cowen boosted their price target on shares of Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.