Sendero Wealth Management LLC Reduces Stock Holdings in Phillips 66 (NYSE:PSX)

Sendero Wealth Management LLC lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 43.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 22,746 shares of the oil and gas company’s stock after selling 17,755 shares during the quarter. Sendero Wealth Management LLC’s holdings in Phillips 66 were worth $2,591,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Legal & General Group Plc lifted its position in Phillips 66 by 0.5% during the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after purchasing an additional 18,238 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Phillips 66 by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after buying an additional 16,941 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Phillips 66 by 2.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock worth $397,193,000 after buying an additional 79,301 shares during the period. Mizuho Securities USA LLC lifted its position in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after buying an additional 2,467,316 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after acquiring an additional 633,970 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of several analyst reports. Barclays lowered their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday. Scotiabank lowered their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research report on Friday, January 3rd. Finally, Mizuho cut their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Stock Up 1.5 %

Shares of PSX opened at $119.04 on Thursday. The business’s 50 day simple moving average is $122.91 and its 200-day simple moving average is $130.03. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. 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 stock has a market capitalization of $49.16 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same quarter last year, the business earned $4.63 earnings per share. Phillips 66’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, equities analysts expect that Phillips 66 will post 7.22 earnings per share for the current fiscal year.

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.