Lau Associates Lowers stake in Phillips 66 (PSX)

Phillips 66 (PSX) : Lau Associates reduced its stake in Phillips 66 by 5.43% during the most recent quarter end. The investment management company now holds a total of 40,209 shares of Phillips 66 which is valued at $3,411,734 after selling 2,307 shares in Phillips 66 , the firm said in a disclosure report filed with the SEC on Apr 11, 2016.Phillips 66 makes up approximately 3.47% of Lau Associates’s portfolio.

Phillips 66 closed down -2.07 points or -2.38% at $84.85 with 27,23,372 shares getting traded on Friday. Post opening the session at $86.66, the shares hit an intraday low of $84.85 and an intraday high of $86.66 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Capstone Asset Management Co reduced its stake in PSX by selling 736 shares or 1.36% in the most recent quarter. The Hedge Fund company now holds 53,494 shares of PSX which is valued at $4,538,966. Phillips 66 makes up approx 0.13% of Capstone Asset Management Co’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.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.

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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