Assenagon Asset Management S.A. Sells 159,064 Shares of Phillips 66 (NYSE:PSX)

Assenagon Asset Management S.A. decreased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 21.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 573,492 shares of the oil and gas company's stock after selling 159,064 shares during the period. Assenagon Asset Management S.A. owned 0.14% of Phillips 66 worth $65,338,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PSX. nVerses Capital LLC acquired a new position in shares of Phillips 66 in the 3rd quarter worth approximately $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 in the third quarter worth approximately $30,000. Point72 Hong Kong Ltd bought a new position in shares of Phillips 66 in the third quarter valued at $40,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Phillips 66 during the 2nd quarter valued at $51,000. Finally, Hoese & Co LLP boosted its stake in shares of Phillips 66 by 33.1% during the 3rd quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company's stock worth $53,000 after acquiring an additional 100 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PSX shares. Piper Sandler lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a research note on Wednesday, October 2nd. Scotiabank dropped their target price on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $167.00 to $161.00 and set an "overweight" rating for the company in a research report on Monday, December 9th. Finally, Bank of America started coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a "buy" rating and a $156.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $147.93.

Phillips 66 Stock Performance

Phillips 66 stock traded up $0.68 on Thursday, reaching $119.68. 1,985,881 shares of the stock were exchanged, compared to its average volume of 2,906,478. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The firm has a fifty day moving average price of $122.73 and a two-hundred day moving average price of $129.95. The stock has a market cap of $49.43 billion, a PE ratio of 15.36, a PEG ratio of 3.17 and a beta of 1.38.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm's revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.63 EPS. Sell-side analysts anticipate that Phillips 66 will post 7.22 EPS for the current year.

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.