Murphy Pohlad Asset Management buys $3,542,427 stake in Phillips 66 (PSX)

Phillips 66 (PSX) : Murphy Pohlad Asset Management scooped up 4,710 additional shares in Phillips 66 during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 20, 2016. The investment management firm now holds a total of 40,264 shares of Phillips 66 which is valued at $3,542,427.Phillips 66 makes up approximately 2.61% of Murphy Pohlad Asset Management’s portfolio.

Phillips 66 opened for trading at $87.64 and hit $88.46 on the upside on Friday, eventually ending the session at $87.98, with a gain of 0.66% or 0.58 points. The heightened volatility saw the trading volume jump to 20,38,942 shares. Company has a market cap of $46,406 M.

Other Hedge Funds, Including , Advocacy Wealth Management Services boosted its stake in PSX in the latest quarter, The investment management firm added 70 additional shares and now holds a total of 540 shares of Phillips 66 which is valued at $47,509. Phillips 66 makes up approx 0.02% of Advocacy Wealth Management Services’s portfolio.Coastline Trust Co reduced its stake in PSX by selling 1,730 shares or 7.98% in the most recent quarter. The Hedge Fund company now holds 19,960 shares of PSX which is valued at $1,693,606. Phillips 66 makes up approx 0.36% of Coastline Trust Co’s portfolio.Wagner Bowman Management Corp reduced its stake in PSX by selling 189 shares or 2.3% in the most recent quarter. The Hedge Fund company now holds 8,030 shares of PSX which is valued at $681,346. Phillips 66 makes up approx 0.27% of Wagner Bowman Management Corp’s portfolio.Jacobs Coca reduced its stake in PSX by selling 100 shares or 2.05% in the most recent quarter. The Hedge Fund company now holds 4,786 shares of PSX which is valued at $406,092. Phillips 66 makes up approx 0.10% of Jacobs Coca’s portfolio.Edge Wealth Management reduced its stake in PSX by selling 119 shares or 41.75% in the most recent quarter. The Hedge Fund company now holds 166 shares of PSX which is valued at $14,040. Phillips 66 makes up approx 0.01% of Edge Wealth Management’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. Phillips 66 was Downgraded by Citigroup to ” Neutral” on Apr 20, 2016. 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.

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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