American Trust Investment Advisors Lowers stake in Phillips 66 (PSX)

Phillips 66 (PSX) : American Trust Investment Advisors reduced its stake in Phillips 66 by 8.93% during the most recent quarter end. The investment management company now holds a total of 28,340 shares of Phillips 66 which is valued at $2,233,475 after selling 2,780 shares in Phillips 66 , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Phillips 66 makes up approximately 2.18% of American Trust Investment Advisors’s portfolio.

Other Hedge Funds, Including , Euclid Advisors reduced its stake in PSX by selling 81,812 shares or 48.94% in the most recent quarter. The Hedge Fund company now holds 85,364 shares of PSX which is valued at $6,727,537. Phillips 66 makes up approx 0.24% of Euclid Advisors’s portfolio.Northeast Financial Consultants Inc boosted its stake in PSX in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 11,925 shares of Phillips 66 which is valued at $939,809. Phillips 66 makes up approx 0.42% of Northeast Financial Consultants Inc’s portfolio.National Pension Service boosted its stake in PSX in the latest quarter, The investment management firm added 28,411 additional shares and now holds a total of 331,698 shares of Phillips 66 which is valued at $26,141,119. Phillips 66 makes up approx 0.22% of National Pension Service’s portfolio.Destination Wealth Management boosted its stake in PSX in the latest quarter, The investment management firm added 472 additional shares and now holds a total of 3,030 shares of Phillips 66 which is valued at $228,462. Phillips 66 makes up approx 0.02% of Destination Wealth Management’s portfolio.

Phillips 66 closed down -0.16 points or -0.20% at $78.29 with 21,65,433 shares getting traded on Thursday. Post opening the session at $78.93, the shares hit an intraday low of $77.66 and an intraday high of $78.93 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Phillips 66 reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $0.93.Analysts expectations of $ 29056.46.During the same quarter in the previous year, the company posted $1.83 EPS.

Many Wall Street Analysts have commented on Phillips 66. Phillips 66 was Initiated by Jefferies to “Hold” on Aug 23, 2016. Cowen Upgraded Phillips 66 on Aug 3, 2016 to ” Outperform”, Price Target of the shares are set at $92.Phillips 66 was Downgraded by Scotia Howard Weil to ” Sector Perform” on Jul 11, 2016.

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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