Sendero Wealth Management LLC Sells 17,755 Shares of Phillips 66 (NYSE:PSX)

Sendero Wealth Management LLC lessened its stake in Phillips 66 (NYSE:PSX - Free Report) by 43.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,746 shares of the oil and gas company's stock after selling 17,755 shares during the period. Sendero Wealth Management LLC's holdings in Phillips 66 were worth $2,591,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PSX. nVerses Capital LLC bought a new stake in shares of Phillips 66 during the 3rd quarter valued at about $26,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 during the 3rd quarter worth approximately $30,000. Point72 Hong Kong Ltd acquired a new stake in shares of Phillips 66 during the 3rd quarter worth approximately $40,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Phillips 66 in the 2nd quarter valued at $51,000. Finally, Hoese & Co LLP boosted its stake in Phillips 66 by 33.1% during the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company's stock worth $53,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

Shares of PSX traded down $0.04 on Thursday, reaching $118.96. 612,769 shares of the company's stock traded hands, compared to its average volume of 2,765,939. The stock's 50 day simple moving average is $122.91 and its two-hundred day simple moving average is $130.03. The stock has a market cap of $49.13 billion, a PE ratio of 15.29, a PEG ratio of 3.17 and a beta of 1.38. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. 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 (NYSE:PSX - Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion for the quarter, compared to analysts' expectations of $36.31 billion. During the same period in the previous year, the business posted $4.63 EPS. The business's revenue for the quarter was down 10.3% compared to the same quarter last year. On average, analysts forecast that Phillips 66 will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PSX shares. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an "overweight" rating on the stock in a report on Wednesday, October 2nd. Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They issued a "buy" rating and a $156.00 price target on the stock. Scotiabank decreased their price objective on Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Wolfe Research upgraded Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Finally, Wells Fargo & Company decreased their price target on shares of Phillips 66 from $167.00 to $161.00 and set an "overweight" rating for the company in a research note on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $147.93.

Phillips 66 Company 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.