CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 13F: Cuts PSX Stake by $3.8M
Key Points
- Cushing Asset Management reduced its stake in Phillips 66 by 15,000 shares, now holding 58,100 shares valued at approximately $14.8 million.
- The fund's reported value for Phillips 66 accounts for about 1.05% of its total portfolio, ranking it 28th out of 73 positions.
- Phillips 66 shares recently traded around $288.85, about equal to its closing price on the filing date.
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Cushing Asset Management has trimmed its stake in Phillips 66 (PSX), reducing its holdings by 15,000 shares in a filing on October 26, 2026. After this cut, the firm now holds 58,100 shares valued at approximately $14.8 million.
PSX
Phillips 66
Where Phillips 66 Fits in Cushing Asset Management's Portfolio
This position represents about 1.05% of Cushing Asset Management's total reported value of $1.42 billion. The reduction of 15,000 shares marks a 20.5% decrease in this investment.
Other Institutional Activity in Phillips 66
Gf Fund Management cut its position in Phillips 66 by 12,952 shares, leaving it with 18,946 shares valued at about $4.8 million. Wells Fargo also reduced its holdings by 1,308,468 shares, now holding 12,479,393 shares worth approximately $3.6 billion.
Phillips 66 Stock Up 2.0%
Phillips 66 shares closed at $288.85 on October 26, 2026, with the recent trading price remaining about equal to that level. The stock is currently above its 50-day moving average by 9.6% and well above its 52-week low of $127.16.
Recent Earnings
For the trailing twelve months, Phillips 66 reported revenue of approximately $152.2 billion and an EPS of $17.5. Earnings are expected to be discussed in the upcoming earnings call scheduled for October 28, 2026.
Dividend
Phillips 66 pays an annual dividend of $5.32 per share, yielding about 1.84% based on recent prices, with a dividend payout ratio of 28.2%.
Insider Buying and Selling at Phillips 66
Insider trading activity included several sales in August 2026, with Director Lisa Ann Davis selling 1,515 shares, and Officer Brian Mandell selling 33,300 shares. Richard G Harbison, another officer, sold 52,100 shares on August 12.
Analysts Set New Price Targets
On October 12, 2026, Barclays maintained its rating on Phillips 66 with an Equal-Weight rating and a new price target of $282. Evercore ISI Group also maintained its Outperform rating with a target of $250. The consensus recommendation for Phillips 66 is currently a buy, with a mean price target of $285.74.
About Phillips 66
Phillips 66 is an integrated downstream energy provider, operating in the U.S. and internationally. The company focuses on refining and marketing oil and gas products across several segments, including Midstream and Renewable Fuels.
Bottom Line
Investors should keep an eye on Phillips 66's upcoming earnings report on October 28, 2026, as well as any further changes in institutional holdings following this recent reduction by Cushing Asset Management.
Related Filing Alerts
Source: CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT's 13F filing on $PSX (Oct 26, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts