Deroy Devereaux Private Investment Counsel Inc Lowers stake in Phillips 66 (PSX)

Phillips 66 (PSX) : Deroy Devereaux Private Investment Counsel Inc reduced its stake in Phillips 66 by 1.6% during the most recent quarter end. The investment management company now holds a total of 182,833 shares of Phillips 66 which is valued at $15,513,380 after selling 2,973 shares in Phillips 66 , the firm said in a disclosure report filed with the SEC on Apr 15, 2016.Phillips 66 makes up approximately 2.11% of Deroy Devereaux Private Investment Counsel Inc’s portfolio.

Phillips 66 opened for trading at $86.84 and hit $87.65 on the upside on Wednesday, eventually ending the session at $87.4, with a gain of 0.82% or 0.71 points. The heightened volatility saw the trading volume jump to 22,70,687 shares. Company has a market cap of $46,100 M.

Other Hedge Funds, Including , 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.Blue Fin Capital reduced its stake in PSX by selling 445 shares or 9.37% in the most recent quarter. The Hedge Fund company now holds 4,303 shares of PSX which is valued at $365,110. Phillips 66 makes up approx 0.31% of Blue Fin Capital’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.Vigilant Capital Management reduced its stake in PSX by selling 125 shares or 9.98% in the most recent quarter. The Hedge Fund company now holds 1,128 shares of PSX which is valued at $95,406. Phillips 66 makes up approx 0.02% of Vigilant Capital 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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