Buckingham Capital Management Inc. Sells 926 Shares of Phillips 66 (NYSE:PSX)

Buckingham Capital Management Inc. lessened its stake in Phillips 66 (NYSE:PSX) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,684 shares of the oil and gas company’s stock after selling 926 shares during the quarter. Buckingham Capital Management Inc.’s holdings in Phillips 66 were worth $5,205,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mizuho Securities USA LLC lifted its holdings in Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after acquiring an additional 2,467,316 shares during the period. ING Groep NV lifted its holdings in Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after acquiring an additional 653,032 shares during the period. Bank of Montreal Can lifted its holdings in Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after acquiring an additional 633,970 shares during the period. Mizuho Markets Americas LLC bought a new stake in Phillips 66 during the third quarter worth $70,983,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Phillips 66 by 73.2% during the third quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock worth $96,294,000 after acquiring an additional 309,507 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $128.24 on Tuesday. The stock has a market cap of $52.96 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a fifty day moving average of $118.74 and a 200-day moving average of $127.19.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the firm earned $3.09 earnings per share. Equities research analysts anticipate that Phillips 66 will post 7.14 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

Analyst Ratings Changes

PSX has been the topic of a number of recent analyst reports. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday. Wells Fargo & Company boosted their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. UBS Group lowered their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Barclays lowered their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

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.