Alta Capital Management buys $45,590,519 stake in Phillips 66 (PSX)

Phillips 66 (PSX) : Alta Capital Management scooped up 21,093 additional shares in Phillips 66 during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 20, 2016. The investment management firm now holds a total of 604,729 shares of Phillips 66 which is valued at $45,590,519.Phillips 66 makes up approximately 2.73% of Alta Capital Management’s portfolio.

Other Hedge Funds, Including , Strategic Advisors reduced its stake in PSX by selling 2,416 shares or 7.41% in the most recent quarter. The Hedge Fund company now holds 30,200 shares of PSX which is valued at $2,275,268. Phillips 66 makes up approx 1.28% of Strategic Advisors’s portfolio.Central Bank Trust Co boosted its stake in PSX in the latest quarter, The investment management firm added 327 additional shares and now holds a total of 43,649 shares of Phillips 66 which is valued at $3,328,236. Phillips 66 makes up approx 0.94% of Central Bank Trust Co’s portfolio.Trust Co reduced its stake in PSX by selling 85 shares or 2.59% in the most recent quarter. The Hedge Fund company now holds 3,203 shares of PSX which is valued at $239,745. Phillips 66 makes up approx 0.09% of Trust Co’s portfolio.

Phillips 66 closed down -0.4 points or -0.53% at $75.34 with 21,44,549 shares getting traded on Wednesday. Post opening the session at $75.74, the shares hit an intraday low of $75 and an intraday high of $76.0199 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.

Investors should note that on Jul 13, 2016, Phillips 66 announced a cash dividend of $0.6300. The company’s management has announced Aug 16, 2016 as the ex-dividend date and fixed the record date on Aug 18, 2016. The payable date has been fixed on Sep 1, 2016.

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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