Cardinal Capital Management buys $1,432,578 stake in Phillips 66 (PSX)

Phillips 66 (PSX) : Cardinal Capital Management scooped up 57 additional shares in Phillips 66 during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 16,283 shares of Phillips 66 which is valued at $1,432,578.Phillips 66 makes up approximately 0.59% of Cardinal Capital Management’s portfolio.

Phillips 66 opened for trading at $88.85 and hit $89.31 on the upside on Wednesday, eventually ending the session at $88.95, with a gain of 0.62% or 0.55 points. The heightened volatility saw the trading volume jump to 24,51,686 shares. Company has a market cap of $46,918 M.

Other Hedge Funds, Including , Neville Rodie Shaw Inc reduced its stake in PSX by selling 1,000 shares or 3.14% in the most recent quarter. The Hedge Fund company now holds 30,809 shares of PSX which is valued at $2,614,144. Phillips 66 makes up approx 0.31% of Neville Rodie Shaw Inc’s portfolio. Daiwa Sb Investments Ltd. added PSX to its portfolio by purchasing 2,210 company shares during the most recent quarter which is valued at $187,519. Phillips 66 makes up approx 0.05% of Daiwa Sb Investments Ltd.’s portfolio.Dnb Asset Management As boosted its stake in PSX in the latest quarter, The investment management firm added 21,320 additional shares and now holds a total of 47,717 shares of Phillips 66 which is valued at $4,048,787. Phillips 66 makes up approx 0.08% of Dnb Asset Management As’s portfolio.British Columbia Investment Management Corp boosted its stake in PSX in the latest quarter, The investment management firm added 4,512 additional shares and now holds a total of 323,387 shares of Phillips 66 which is valued at $27,352,072. Phillips 66 makes up approx 0.26% of British Columbia Investment 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. 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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