Yousif Capital Management LLC Trims Holdings in Phillips 66 (NYSE:PSX)

Yousif Capital Management LLC trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 6.6% during the fourth quarter, HoldingsChannel reports. The fund owned 68,682 shares of the oil and gas company’s stock after selling 4,835 shares during the quarter. Yousif Capital Management LLC’s holdings in Phillips 66 were worth $9,144,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PSX. NewSquare Capital LLC lifted its holdings in Phillips 66 by 1.7% during the 4th quarter. NewSquare Capital LLC now owns 48,907 shares of the oil and gas company’s stock worth $6,425,000 after buying an additional 794 shares during the last quarter. Cutter & CO Brokerage Inc. lifted its stake in Phillips 66 by 9.9% during the fourth quarter. Cutter & CO Brokerage Inc. now owns 2,352 shares of the oil and gas company’s stock worth $313,000 after purchasing an additional 211 shares during the last quarter. GAMMA Investing LLC bought a new position in Phillips 66 during the fourth quarter worth $653,000. Community Bank & Trust Waco Texas lifted its position in shares of Phillips 66 by 76.0% in the 4th quarter. Community Bank & Trust Waco Texas now owns 30,643 shares of the oil and gas company’s stock worth $4,080,000 after buying an additional 13,232 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Phillips 66 by 70.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,202 shares of the oil and gas company’s stock worth $426,000 after buying an additional 1,323 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insider Activity

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were 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 of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PSX has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. JPMorgan Chase & Co. lifted their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Piper Sandler lifted their target price on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Citigroup initiated coverage on Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $158.00.

Phillips 66 Price Performance

PSX stock opened at $157.82 on Thursday. The company has a fifty day moving average price of $155.18 and a 200-day moving average price of $136.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The company has a market capitalization of $67.52 billion, a P/E ratio of 10.20, a PEG ratio of 1.95 and a beta of 1.37. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08.

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

Phillips 66 Increases Dividend

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

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.