Intrust Bank Na Lowers stake in Phillips 66 (PSX)

Phillips 66 (PSX) : Intrust Bank Na reduced its stake in Phillips 66 by 14.72% during the most recent quarter end. The investment management company now holds a total of 27,797 shares of Phillips 66 which is valued at $2,186,512 after selling 4,798 shares in Phillips 66 , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Phillips 66 makes up approximately 0.86% of Intrust Bank Na’s portfolio.

Other Hedge Funds, Including , Amg National Trust Bank boosted its stake in PSX in the latest quarter, The investment management firm added 7,425 additional shares and now holds a total of 17,005 shares of Phillips 66 which is valued at $1,337,613. Phillips 66 makes up approx 0.12% of Amg National Trust Bank’s portfolio.Msi Financial Services Inc boosted its stake in PSX in the latest quarter, The investment management firm added 17,618 additional shares and now holds a total of 45,077 shares of Phillips 66 which is valued at $3,398,806. Phillips 66 makes up approx 0.12% of Msi Financial Services Inc’s portfolio.Raymond James Trust N.a. boosted its stake in PSX in the latest quarter, The investment management firm added 6,648 additional shares and now holds a total of 45,126 shares of Phillips 66 which is valued at $3,377,681. Phillips 66 makes up approx 0.28% of Raymond James Trust N.a.’s portfolio. New England Research Management added PSX to its portfolio by purchasing 5,200 company shares during the most recent quarter which is valued at $405,236. Phillips 66 makes up approx 0.35% of New England Research Management’s portfolio.

Phillips 66 opened for trading at $78.89 and hit $79.52 on the upside on Monday, eventually ending the session at $78.58, with a gain of 0.38% or 0.3 points. The heightened volatility saw the trading volume jump to 23,27,864 shares. Company has a market cap of $41,086 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.

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. 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 was Downgraded by Wells Fargo to ” Market Perform” on Jul 8, 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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