Assenagon Asset Management S.A. Has $3.39 Million Position in Phillips 66 $PSX

Assenagon Asset Management S.A. lessened its stake in Phillips 66 (NYSE:PSX) by 88.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,296 shares of the oil and gas company’s stock after selling 194,320 shares during the period. Assenagon Asset Management S.A.’s holdings in Phillips 66 were worth $3,393,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. L2 Asset Management LLC lifted its stake in shares of Phillips 66 by 4.0% in the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock worth $257,000 after acquiring an additional 72 shares during the period. Mesirow Financial Investment Management Inc. boosted its holdings in Phillips 66 by 0.5% in the third quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock valued at $2,130,000 after acquiring an additional 73 shares during the last quarter. KCM Investment Advisors LLC increased its position in Phillips 66 by 1.6% during the 3rd quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 74 shares during the period. Heck Capital Advisors LLC increased its position in Phillips 66 by 1.2% during the 3rd quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company’s stock valued at $833,000 after purchasing an additional 75 shares during the period. Finally, Portside Wealth Group LLC raised its holdings in Phillips 66 by 3.8% during the 3rd quarter. Portside Wealth Group LLC now owns 2,033 shares of the oil and gas company’s stock worth $277,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PSX. Mizuho upped their price objective on shares of Phillips 66 from $152.00 to $170.00 and gave the company a “neutral” rating in a research note on Tuesday, March 17th. The Goldman Sachs Group lifted their target price on shares of Phillips 66 from $168.00 to $186.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Scotiabank restated a “sector perform” rating and issued a $140.00 target price on shares of Phillips 66 in a report on Friday, January 16th. Citigroup upped their price target on shares of Phillips 66 from $146.00 to $159.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Finally, Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.00.

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total transaction of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares of the company’s stock, valued at $3,869,850. This represents a 14.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Don Baldridge sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the sale, the executive vice president owned 38,488 shares of the company’s stock, valued at approximately $6,158,080. This represents a 16.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 84,688 shares of company stock valued at $14,066,145. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $188.20 on Monday. The company has a market cap of $75.42 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 0.35 and a beta of 0.86. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $188.53. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $159.24 and a 200-day moving average of $143.46.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same quarter in the previous year, the company earned ($0.15) EPS. On average, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.7%. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Monday, February 23rd. Phillips 66’s payout ratio is presently 46.95%.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.