Capital Wealth Planning Lowers stake in Phillips 66 (PSX)

Phillips 66 (PSX) : Capital Wealth Planning reduced its stake in Phillips 66 by 4.93% during the most recent quarter end. The investment management company now holds a total of 21,025 shares of Phillips 66 which is valued at $1.6 Million after selling 1,090 shares in Phillips 66 , the firm said in a disclosure report filed with the SEC on May 12, 2016.Phillips 66 makes up approximately 1.22% of Capital Wealth Planning’s portfolio.

Other Hedge Funds, Including , Trustmark National Bank Trust Department boosted its stake in PSX in the latest quarter, The investment management firm added 2,085 additional shares and now holds a total of 15,099 shares of Phillips 66 which is valued at $1.2 Million. Phillips 66 makes up approx 0.16% of Trustmark National Bank Trust Department’s portfolio.Finemark National Bank Trust reduced its stake in PSX by selling 5,874 shares or 23.45% in the most recent quarter. The Hedge Fund company now holds 19,174 shares of PSX which is valued at $1.5 Million. Phillips 66 makes up approx 0.18% of Finemark National Bank Trust’s portfolio.New York State Common Retirement Fund reduced its stake in PSX by selling 9,720 shares or 0.62% in the most recent quarter. The Hedge Fund company now holds 1,556,150 shares of PSX which is valued at $122.2 Million. Phillips 66 makes up approx 0.19% of New York State Common Retirement Fund’s portfolio.Commonwealth Equity Services Inc boosted its stake in PSX in the latest quarter, The investment management firm added 20,929 additional shares and now holds a total of 201,707 shares of Phillips 66 which is valued at $16.6 Million. Phillips 66 makes up approx 0.15% of Commonwealth Equity Services Inc’s portfolio.

Phillips 66 opened for trading at $78.15 and hit $78.46 on the upside on Friday, eventually ending the session at $77.9, with a gain of 0.32% or 0.25 points. The heightened volatility saw the trading volume jump to 23,52,347 shares. Company has a market cap of $40,943 M.

On the company’s financial health, Phillips 66 reported $0.67 EPS for the quarter, missing the analyst consensus estimate by $ -0.20 based on the information available during the earnings call on Apr 29, 2016. Analyst had a consensus of $0.87.Analysts expectations of $ 27437.26.During the same quarter in the previous year, the company posted $1.51 EPS.

Many Wall Street Analysts have commented on Phillips 66. Shares were Reiterated by Barclays on May 2, 2016 to “Overweight” and Lowered the Price Target to $ 93 from a previous price target of $97 .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 .

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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