Norman Fields Gottscho Capital Management Lowers stake in Phillips 66 (PSX)

Phillips 66 (PSX) : Norman Fields Gottscho Capital Management reduced its stake in Phillips 66 by 2.81% during the most recent quarter end. The investment management company now holds a total of 64,040 shares of Phillips 66 which is valued at $4,883,050 after selling 1,850 shares in Phillips 66 , the firm said in a disclosure report filed with the SEC on Jul 11, 2016.Phillips 66 makes up approximately 3.33% of Norman Fields Gottscho Capital Management’s portfolio.

Other Hedge Funds, Including , Firstmerit Bank N A Trustee reduced its stake in PSX by selling 1,566 shares or 19.85% in the most recent quarter. The Hedge Fund company now holds 6,322 shares of PSX which is valued at $482,053. Phillips 66 makes up approx 0.04% of Firstmerit Bank N A Trustee’s portfolio.Alpha Windward boosted its stake in PSX in the latest quarter, The investment management firm added 18 additional shares and now holds a total of 3,069 shares of Phillips 66 which is valued at $229,715. Phillips 66 makes up approx 0.16% of Alpha Windward’s portfolio.Marshwinds Advisory Co reduced its stake in PSX by selling 263 shares or 1.09% in the most recent quarter. The Hedge Fund company now holds 23,854 shares of PSX which is valued at $1,785,472. Phillips 66 makes up approx 0.86% of Marshwinds Advisory Co’s portfolio.

Phillips 66 closed down -0.15 points or -0.20% at $76.25 with 35,86,505 shares getting traded on Wednesday. Post opening the session at $76.08, the shares hit an intraday low of $74.82 and an intraday high of $76.51 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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. Phillips 66 was Downgraded by Scotia Howard Weil to ” Sector Perform” on Jul 11, 2016. Phillips 66 was Downgraded by Wells Fargo to ” Market Perform” on Jul 8, 2016. Phillips 66 was Downgraded by Morgan Stanley to ” Equal-Weight” on Jun 17, 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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