Phillips 66 (PSX) Shareholder Berkshire Hathaway INC Trimmed Its Stake

July 19, 2018 - By Nadine Davis

Phillips 66 (NYSE:PSX) LogoInvestors sentiment decreased to 0.91 in 2018 Q1. Its down 0.10, from 1.01 in 2017Q4. It dropped, as 55 investors sold PSX shares while 389 reduced holdings. 97 funds opened positions while 308 raised stakes. 314.13 million shares or 10.62% less from 351.44 million shares in 2017Q4 were reported. Essex Financial Inc accumulated 0.44% or 23,328 shares. Blue Fincl reported 3,692 shares. Moreover, Daiwa Sb Invests Ltd has 0.05% invested in Phillips 66 (NYSE:PSX). Compton Mgmt Ri invested in 0.2% or 4,625 shares. Optimum Invest Advisors holds 0.05% or 1,823 shares in its portfolio. Virtu Fin Ltd Co invested in 5,220 shares. Archford Cap Strategies Ltd Limited Liability Company accumulated 478 shares. Carnegie Asset Management Limited Com reported 1.09% stake. Doheny Asset Mgmt Ca reported 37,102 shares. Rothschild Investment Il holds 0.25% of its portfolio in Phillips 66 (NYSE:PSX) for 20,415 shares. Spirit Of America Management Ny holds 83,637 shares or 1.05% of its portfolio. Regentatlantic Cap Ltd Liability Com holds 48,952 shares. Asset Mgmt invested in 30,845 shares. Rbf Ltd owns 50,000 shares. Associated Banc has invested 0.68% of its portfolio in Phillips 66 (NYSE:PSX).

Since May 16, 2018, it had 0 insider purchases, and 1 insider sale for $828,000 activity.

Berkshire Hathaway Inc decreased its stake in Phillips 66 (PSX) by 43.38% based on its latest 2018Q1 regulatory filing with the SEC. Berkshire Hathaway Inc sold 35.00 million shares as the company’s stock rose 24.95% while stock markets declined. The hedge fund run by Warren Buffett held 45.69M shares of the integrated oil company at the end of 2018Q1, valued at $4.38 billion, down from 80.69M at the end of the previous reported quarter. Berkshire Hathaway Inc who had been investing in Phillips 66 for a number of months, seems to be less bullish one the $51.77 billion market cap company. The stock increased 0.21% or $0.23 during the last trading session, reaching $111.13. About 821,470 shares traded. Phillips 66 (NYSE:PSX) has risen 49.32% since July 19, 2017 and is uptrending. It has outperformed by 36.75% the S&P500.

Berkshire Hathaway Inc, which manages about $188.94 billion US Long portfolio, upped its stake in Bank Of New York Mellon Corp (NYSE:BK) by 1.37M shares to 62.19 million shares, valued at $3.20B in 2018Q1, according to the filing. It also increased its holding in Mosanto Co New (NYSE:MON) by 7.26M shares in the quarter, for a total of 18.97M shares, and has risen its stake in Us Bancorp Del (NYSE:USB).

Analysts await Phillips 66 (NYSE:PSX) to report earnings on July, 27 before the open. They expect $2.18 earnings per share, up 100.00 % or $1.09 from last year’s $1.09 per share. PSX’s profit will be $1.02 billion for 12.74 P/E if the $2.18 EPS becomes a reality. After $1.04 actual earnings per share reported by Phillips 66 for the previous quarter, Wall Street now forecasts 109.62 % EPS growth.

More news for Phillips 66 (NYSE:PSX) were recently published by: Seekingalpha.com, which released: “TransMontaigne Partners: ArcLight Bids $38 (Whoopee-Do)” on July 15, 2018. Bizjournals.com‘s article titled: “Houston energy cos. jump ranks in latest Fortune Global 500 list” and published on July 19, 2018 is yet another important article.

Phillips 66 (NYSE:PSX) Ratings Coverage

Among 12 analysts covering Phillips 66 (NYSE:PSX), 4 have Buy rating, 2 Sell and 6 Hold. Therefore 33% are positive. Phillips 66 had 20 analyst reports since January 21, 2018 according to SRatingsIntel. The company was maintained on Friday, February 2 by Cowen & Co. The firm has “Hold” rating given on Friday, April 13 by RBC Capital Markets. The firm has “Neutral” rating by Citigroup given on Tuesday, March 13. Jefferies maintained Phillips 66 (NYSE:PSX) rating on Tuesday, April 24. Jefferies has “Sell” rating and $8500 target. Morgan Stanley maintained it with “Equal-Weight” rating and $140 target in Monday, July 16 report. The rating was maintained by Citigroup on Wednesday, January 24 with “Neutral”. Piper Jaffray maintained the stock with “Buy” rating in Sunday, January 21 report. The stock of Phillips 66 (NYSE:PSX) has “Buy” rating given on Monday, April 23 by Piper Jaffray. Credit Suisse maintained the stock with “Neutral” rating in Monday, April 30 report. The company was maintained on Monday, April 30 by Barclays Capital.

Phillips 66 (NYSE:PSX) Institutional Positions Chart

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