Somerset Trust Co Lowers stake in Phillips 66 (PSX)

Phillips 66 (PSX) : Somerset Trust Co reduced its stake in Phillips 66 by 16.94% during the most recent quarter end. The investment management company now holds a total of 27,865 shares of Phillips 66 which is valued at $2,364,345 after selling 5,685 shares in Phillips 66 , the firm said in a disclosure report filed with the SEC on Apr 13, 2016.Phillips 66 makes up approximately 1.55% of Somerset Trust Co’s portfolio.

Phillips 66 opened for trading at $84.01 and hit $85.73 on the upside on Monday, eventually ending the session at $85.65, with a gain of 0.94% or 0.8 points. The heightened volatility saw the trading volume jump to 24,54,626 shares. Company has a market cap of $45,177 M.

Other Hedge Funds, Including , Norman Fields Gottscho Capital Management boosted its stake in PSX in the latest quarter, The investment management firm added 28,850 additional shares and now holds a total of 65,890 shares of Phillips 66 which is valued at $5,590,767. Phillips 66 makes up approx 3.70% of Norman Fields Gottscho Capital Management’s portfolio.Bkd Wealth Advisors reduced its stake in PSX by selling 297 shares or 5.18% in the most recent quarter. The Hedge Fund company now holds 5,435 shares of PSX which is valued at $461,160. Phillips 66 makes up approx 0.07% of Bkd Wealth Advisors’s portfolio.Chevy Chase Trust Holdings reduced its stake in PSX by selling 4,276 shares or 1.06% in the most recent quarter. The Hedge Fund company now holds 400,025 shares of PSX which is valued at $33,834,115. Phillips 66 makes up approx 0.20% of Chevy Chase Trust Holdings’s portfolio. Curbstone Financial Management Corp added PSX to its portfolio by purchasing 7,604 company shares during the most recent quarter which is valued at $643,146. Phillips 66 makes up approx 0.22% of Curbstone Financial Management Corp’s portfolio.

On the company’s financial health, Phillips 66 reported $1.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jan 29, 2016. Analyst had a consensus of $1.25.Analysts expectations of $ 29438.27.During the same quarter in the previous year, the company posted $1.63 EPS.

Many Wall Street Analysts have commented on Phillips 66. Shares were Reiterated by Barclays on Apr 8, 2016 to “Overweight” and Lowered the Price Target to $ 98 from a previous price target of $102 .Cowen Initiated Phillips 66 on Mar 28, 2016 to “Market Perform”, Price Target of the shares are set at $92.Shares were Reiterated by RBC Capital Mkts on Feb 1, 2016 to “Sector Perform” and Lowered the Price Target to $ 77 from a previous price target of $79 .

Phillips 66 is an energy manufacturing and logistics company with midstream chemicals refining and marketing and specialties businesses. The Company operates its business through four segments: midstream chemicals refining and marketing and specialties. It gathers processes transports and markets natural gas and transports fractionates and markets natural gas liquids (NGL) in the United States. The Chemical segment manufactures and markets petrochemicals and plastics. The Chemicals segment consists of its 50% equity investment in Chevron Phillips Chemical Company LLC (CPChem). The refining segment buys sells and refines crude oil and other feedstocks into petroleum products (such as gasolines distillates and aviation fuels) at 14 refineries mainly in the United States and Europe. The Marketing and Specialties segment purchases for resale and markets refined petroleum products (such as gasolines distillates and aviation fuels) mainly in the United States and Europe.

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