Yousif Capital Management LLC Cuts Stake in Phillips 66 (NYSE:PSX)

Yousif Capital Management LLC reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,682 shares of the oil and gas company’s stock after selling 4,835 shares during the period. Yousif Capital Management LLC’s holdings in Phillips 66 were worth $9,144,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth approximately $254,336,000. Bank of New York Mellon Corp increased its position in shares of Phillips 66 by 12.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock valued at $549,156,000 after purchasing an additional 502,785 shares during the last quarter. Bahl & Gaynor Inc. increased its position in shares of Phillips 66 by 41.2% in the 3rd quarter. Bahl & Gaynor Inc. now owns 1,506,861 shares of the oil and gas company’s stock valued at $181,049,000 after purchasing an additional 439,360 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Phillips 66 by 1,038.3% in the third quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock valued at $56,720,000 after buying an additional 430,723 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Phillips 66 by 53.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock valued at $145,951,000 after buying an additional 421,714 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PSX has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Citigroup initiated coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. increased their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Bank of America increased their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Barclays boosted their price target on shares of Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $158.00.

Insider Activity at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock worth $5,272,681 in the last three months. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $157.82 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The business’s 50-day moving average price is $155.18 and its 200 day moving average price is $136.46. The firm has a market cap of $67.52 billion, a P/E ratio of 10.20, a P/E/G ratio of 1.95 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The company had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. On average, equities research analysts expect that Phillips 66 will post 13.59 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.91%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is 27.15%.

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.