Alta Capital Management buys $48,523,066 stake in Phillips 66 (PSX)

Phillips 66 (PSX) : Alta Capital Management scooped up 8,323 additional shares in Phillips 66 during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 613,052 shares of Phillips 66 which is valued at $48,523,066.Phillips 66 makes up approximately 3.07% of Alta Capital Management’s portfolio.

Other Hedge Funds, Including , Edge Wealth Management boosted its stake in PSX in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 168 shares of Phillips 66 which is valued at $13,297. Phillips 66 makes up approx 0.01% of Edge Wealth Management’s portfolio.Capstone Asset Management Co boosted its stake in PSX in the latest quarter, The investment management firm added 2,811 additional shares and now holds a total of 109,084 shares of Phillips 66 which is valued at $8,787,807. Phillips 66 makes up approx 0.26% of Capstone Asset Management Co’s portfolio.Creative Planning boosted its stake in PSX in the latest quarter, The investment management firm added 1,121 additional shares and now holds a total of 80,260 shares of Phillips 66 which is valued at $6,465,746. Phillips 66 makes up approx 0.04% of Creative Planning’s portfolio. Contravisory Investment Management sold out all of its stake in PSX during the most recent quarter. The investment firm sold 24 shares of PSX which is valued $1,951.Exxonmobil Investment Management Inc Tx reduced its stake in PSX by selling 7,605 shares or 6.28% in the most recent quarter. The Hedge Fund company now holds 113,477 shares of PSX which is valued at $9,122,416. Phillips 66 makes up approx 0.19% of Exxonmobil Investment Management Inc Tx’s portfolio.

Phillips 66 closed down -0.74 points or -0.91% at $80.56 with 15,81,621 shares getting traded on Tuesday. Post opening the session at $81.24, the shares hit an intraday low of $80.1801 and an intraday high of $81.34 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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 Upgraded by Goldman to ” Neutral” on Sep 30, 2016. 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 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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