Viking Fund Management Lowers stake in Phillips 66 (PSX)

Phillips 66 (PSX) : Viking Fund Management reduced its stake in Phillips 66 by 36.36% during the most recent quarter end. The investment management company now holds a total of 140,000 shares of Phillips 66 which is valued at $11,081,000 after selling 80,000 shares in Phillips 66 , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Phillips 66 makes up approximately 1.78% of Viking Fund Management’s portfolio.

Other Hedge Funds, Including , W.g. Shaheen Associates Dba Whitney Co boosted its stake in PSX in the latest quarter, The investment management firm added 2,800 additional shares and now holds a total of 45,779 shares of Phillips 66 which is valued at $3,623,408. Phillips 66 makes up approx 1.48% of W.g. Shaheen Associates Dba Whitney Co’s portfolio.Chicago Trust Co Na boosted its stake in PSX in the latest quarter, The investment management firm added 3,991 additional shares and now holds a total of 19,998 shares of Phillips 66 which is valued at $1,611,039. Phillips 66 makes up approx 0.74% of Chicago Trust Co Na’s portfolio.Central Bank Trust Co reduced its stake in PSX by selling 119 shares or 0.27% in the most recent quarter. The Hedge Fund company now holds 43,530 shares of PSX which is valued at $3,499,377. Phillips 66 makes up approx 0.99% of Central Bank Trust Co’s portfolio.First Mercantile Trust Co reduced its stake in PSX by selling 400 shares or 3.81% in the most recent quarter. The Hedge Fund company now holds 10,100 shares of PSX which is valued at $811,939. Phillips 66 makes up approx 0.11% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in PSX by selling 62,578 shares or 26.07% in the most recent quarter. The Hedge Fund company now holds 177,469 shares of PSX which is valued at $14,390,961. Phillips 66 makes up approx 0.06% of Bnp Paribas Arbitrage Sa’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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