Phillips 66 (PSX) : Veritable reduced its stake in Phillips 66 by 1.04% during the most recent quarter end. The investment management company now holds a total of 85,243 shares of Phillips 66 which is valued at $6,718,001 after selling 894 shares in Phillips 66 , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Phillips 66 makes up approximately 0.17% of Veritable’s portfolio.
Other Hedge Funds, Including , Kcm Investment Advisors boosted its stake in PSX in the latest quarter, The investment management firm added 220 additional shares and now holds a total of 3,357 shares of Phillips 66 which is valued at $264,565. Phillips 66 makes up approx 0.02% of Kcm Investment Advisors’s portfolio.Marco Investment Management boosted its stake in PSX in the latest quarter, The investment management firm added 4 additional shares and now holds a total of 23,542 shares of Phillips 66 which is valued at $1,855,345. Phillips 66 makes up approx 0.27% of Marco Investment Management’s portfolio. Jacobus Wealth Management sold out all of its stake in PSX during the most recent quarter. The investment firm sold 8,139 shares of PSX which is valued $637,121. Nbt Bank N A Ny sold out all of its stake in PSX during the most recent quarter. The investment firm sold 2,462 shares of PSX which is valued $192,725.Kwmg reduced its stake in PSX by selling 12 shares or 0.45% in the most recent quarter. The Hedge Fund company now holds 2,655 shares of PSX which is valued at $200,160. Phillips 66 makes up approx 0.11% of Kwmg’s portfolio.
Phillips 66 opened for trading at $79.24 and hit $79.99 on the upside on Wednesday, eventually ending the session at $79.59, with a gain of 0.61% or 0.48 points. The heightened volatility saw the trading volume jump to 3,312,504 shares. Company has a market cap of $41,614 M.
On the company’s financial health, Phillips 66 reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $0.93.Analysts expectations of $ 29056.46.During the same quarter in the previous year, the company posted $1.83 EPS.
Many Wall Street Analysts have commented on Phillips 66. Phillips 66 was Initiated by Jefferies to “Hold” on Aug 23, 2016. Cowen Upgraded Phillips 66 on Aug 3, 2016 to ” Outperform”, Price Target of the shares are set at $92.Phillips 66 was Downgraded by Scotia Howard Weil to ” Sector Perform” on Jul 11, 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.