Spc Financial Lowers stake in Phillips 66 (PSX)

Phillips 66 (PSX) : Spc Financial reduced its stake in Phillips 66 by 0.44% during the most recent quarter end. The investment management company now holds a total of 34,250 shares of Phillips 66 which is valued at $2,582,108 after selling 150 shares in Phillips 66 , the firm said in a disclosure report filed with the SEC on Jul 21, 2016.Phillips 66 makes up approximately 0.90% of Spc Financial’s portfolio.

Other Hedge Funds, Including , Cibc World Markets reduced its stake in PSX by selling 35,635 shares or 30.49% in the most recent quarter. The Hedge Fund company now holds 81,235 shares of PSX which is valued at $6,124,307. Phillips 66 makes up approx 0.03% of Cibc World Markets’s portfolio.Pennsylvania Trust Co reduced its stake in PSX by selling 400 shares or 4.0% in the most recent quarter. The Hedge Fund company now holds 9,609 shares of PSX which is valued at $723,942. Phillips 66 makes up approx 0.06% of Pennsylvania Trust Co’s portfolio.Benjamin F. Edwards Company boosted its stake in PSX in the latest quarter, The investment management firm added 4,190 additional shares and now holds a total of 17,314 shares of Phillips 66 which is valued at $1,320,193. Phillips 66 makes up approx 0.25% of Benjamin F. Edwards Company’s portfolio.

Phillips 66 opened for trading at $75.69 and hit $76.38 on the upside on Thursday, eventually ending the session at $76.25, with a gain of 1.13% or 0.85 points. The heightened volatility saw the trading volume jump to 40,46,258 shares. Company has a market cap of $40,076 M.

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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