General Electric (GE) Holder Raymond James Trust Has Decreased Its Position by $395,642 as Share Value Declined; Phillips 66 (PSX) Market Valuation Rose While Main Street Research Boosted Position

August 12, 2018 - By Billy Entrekin

Phillips 66 (NYSE:PSX) Logo

Main Street Research Llc increased its stake in Phillips 66 (PSX) by 5.54% based on its latest 2018Q1 regulatory filing with the SEC. Main Street Research Llc bought 6,606 shares as the company’s stock rose 24.95% while stock markets declined. The institutional investor held 125,928 shares of the integrated oil company at the end of 2018Q1, valued at $12.08M, up from 119,322 at the end of the previous reported quarter. Main Street Research Llc who had been investing in Phillips 66 for a number of months, seems to be bullish on the $56.91 billion market cap company. The stock increased 0.34% or $0.41 during the last trading session, reaching $122.59. About 1.85 million shares traded. Phillips 66 (NYSE:PSX) has risen 49.32% since August 12, 2017 and is uptrending. It has outperformed by 36.75% the S&P500. Some Historical PSX News: 18/04/2018 – Phillips 66 Rises for 8 Days; Tied for Longest Rally; 27/04/2018 – Phillips 66 1Q Net $524M; 21/04/2018 – DJ Phillips 66, Inst Holders, 1Q 2018 (PSX); 27/04/2018 – PHILLIPS 66 QTRLY TOTAL REVENUES AND OTHER INCOME $24,046 MLN VS $23,712 MLN; 24/04/2018 – PHILLIPS 66: PIPELINE TO BE PLACED IN SERVICE BY END OF 2019; 02/04/2018 – Fidelity Mega Cap Adds Pfizer, Exits Phillips 66; 25/04/2018 – Phillips 66 expected to post earnings of 89 cents a share – Earnings Preview; 09/04/2018 – Mastercard and Phillips 66 Drive Easier Payments with Masterpass; 17/04/2018 – Phillips 66’s JV Borger, Texas gasoline units due back next week; 16/04/2018 – Phillips 66 restarting JV Borger refinery gasoline units

Raymond James Trust decreased its stake in General Electric (GE) by 7.34% based on its latest 2018Q1 regulatory filing with the SEC. Raymond James Trust sold 30,434 shares as the company’s stock declined 0.14% with the market. The institutional investor held 384,245 shares of the consumer electronics and appliances company at the end of 2018Q1, valued at $5.18 million, down from 414,679 at the end of the previous reported quarter. Raymond James Trust who had been investing in General Electric for a number of months, seems to be less bullish one the $110.99 billion market cap company. The stock decreased 1.31% or $0.17 during the last trading session, reaching $12.77. About 48.45 million shares traded. General Electric Company (NYSE:GE) has declined 46.78% since August 12, 2017 and is downtrending. It has underperformed by 59.35% the S&P500. Some Historical GE News: 20/04/2018 – General Electric 1Q Adj EPS 16c; 17/05/2018 – GE HEALTHCARE & FITTRACE REPORT COLLABORATION; 23/03/2018 – Asian oil, gas producers stepping up activity after long lull; 28/03/2018 – GE Gets a Warren Buffet Boost (Video); 21/05/2018 – CORRECT: WABTEC CLIMBS MOST INTRADAY IN A MONTH, AFTER GE DEAL; 21/05/2018 – WABTEC – OBTAINED FULL COMMITMENTS FOR $2.9 BLN BRIDGE FACILITY AND EXPECTS TO PUT IN PLACE PERMANENT DEBT FINANCING PRIOR TO DEAL CLOSING; 25/04/2018 – GE: 64.9% OF VOTING SHAREHOLDER VOTE TO RATIFY KPMG AS AUDITOR; 20/04/2018 – G.E. Earnings Show Some Signs of a Turnaround; 26/04/2018 – HNA Acquired TIP in 2013 From GE Capital; 29/05/2018 – Tampa General Hospital and GE Healthcare Partner for Next Level Care Coordination

Raymond James Trust, which manages about $1.45 billion US Long portfolio, upped its stake in Qualcomm Inc (NASDAQ:QCOM) by 13,914 shares to 158,460 shares, valued at $8.78 million in 2018Q1, according to the filing. It also increased its holding in Ishares (CIU) by 3,753 shares in the quarter, for a total of 30,607 shares, and has risen its stake in Eastman Chemical Co (NYSE:EMN).

Analysts await General Electric Company (NYSE:GE) to report earnings on October, 19. They expect $0.22 EPS, down 24.14% or $0.07 from last year’s $0.29 per share. GE’s profit will be $1.91 billion for 14.51 P/E if the $0.22 EPS becomes a reality. After $0.19 actual EPS reported by General Electric Company for the previous quarter, Wall Street now forecasts 15.79% EPS growth.

Since July 24, 2018, it had 1 buy, and 0 selling transactions for $2.49 million activity.

More notable recent General Electric Company (NYSE:GE) news were published by: Seekingalpha.com which released: “General Electric: I’m Betting On John Flannery” on August 02, 2018, also Seekingalpha.com with their article: “GE – Work In Progress, Lots Of Work” published on July 22, 2018, Seekingalpha.com published: “General Electric: Stop The Madness” on August 06, 2018. More interesting news about General Electric Company (NYSE:GE) were released by: Seekingalpha.com and their article: “General Electric: The Gift That Keeps On Giving” published on July 30, 2018 as well as Seekingalpha.com‘s news article titled: “Another Blow To General Electric” with publication date: July 23, 2018.

Among 29 analysts covering General Electric Company (NYSE:GE), 8 have Buy rating, 4 Sell and 17 Hold. Therefore 28% are positive. General Electric Company had 110 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Neutral” rating given on Monday, October 23 by UBS. J.P. Morgan maintained the shares of GE in report on Thursday, March 29 with “Sell” rating. The stock has “Outperform” rating by RBC Capital Markets on Monday, November 30. As per Tuesday, June 26, the company rating was maintained by CFRA. Oppenheimer upgraded the stock to “Hold” rating in Tuesday, June 26 report. The stock of General Electric Company (NYSE:GE) has “Neutral” rating given on Friday, July 27 by Bank of America. As per Monday, October 30, the company rating was maintained by Deutsche Bank. Stifel Nicolaus maintained the stock with “Hold” rating in Tuesday, January 30 report. The company was upgraded on Tuesday, October 13 by William Blair. The stock has “Equal-Weight” rating by Morgan Stanley on Monday, October 2.

Investors sentiment increased to 0.55 in Q1 2018. Its up 0.05, from 0.5 in 2017Q4. It increased, as 153 investors sold GE shares while 804 reduced holdings. 124 funds opened positions while 398 raised stakes. 4.54 billion shares or 3.00% less from 4.69 billion shares in 2017Q4 were reported. Homrich And Berg invested in 0.07% or 75,198 shares. Oarsman Inc accumulated 202,525 shares or 1.24% of the stock. Iowa Financial Bank holds 0.48% or 73,851 shares. Goldman Sachs Group Incorporated invested in 57.59M shares. Moreover, Cim Invest Mangement Inc has 0.32% invested in General Electric Company (NYSE:GE). Pillar Pacific Cap Mngmt Ltd Llc holds 25,678 shares. Albion Fincl Gru Ut reported 1.38 million shares. Arrowmark Colorado Holdings Ltd Com holds 0% or 10,000 shares in its portfolio. Ibm Retirement Fund invested 0.51% of its portfolio in General Electric Company (NYSE:GE). Boston Family Office Limited Liability Company accumulated 324,146 shares. Poplar Forest Ltd Com holds 0.01% or 11,480 shares. Troy Asset Mngmt holds 0% of its portfolio in General Electric Company (NYSE:GE) for 560 shares. 198,275 are held by Eastern Natl Bank. Asset invested in 504,478 shares or 0.32% of the stock. Interocean Capital Llc owns 385,415 shares.

Among 20 analysts covering Phillips 66 (NYSE:PSX), 9 have Buy rating, 2 Sell and 9 Hold. Therefore 45% are positive. Phillips 66 had 85 analyst reports since August 4, 2015 according to SRatingsIntel. Jefferies maintained it with “Sell” rating and $8500 target in Tuesday, April 24 report. The firm earned “Overweight” rating on Thursday, May 25 by PiperJaffray. The stock of Phillips 66 (NYSE:PSX) earned “Outperform” rating by Credit Suisse on Tuesday, October 27. JP Morgan maintained Phillips 66 (NYSE:PSX) rating on Monday, April 9. JP Morgan has “Neutral” rating and $109 target. The stock has “Neutral” rating by Citigroup on Tuesday, March 13. The rating was maintained by Barclays Capital with “Overweight” on Monday, November 2. The stock has “Neutral” rating by Credit Suisse on Monday, April 11. RBC Capital Markets maintained Phillips 66 (NYSE:PSX) rating on Friday, April 21. RBC Capital Markets has “Hold” rating and $87 target. On Thursday, January 11 the stock rating was downgraded by Morgan Stanley to “Equal-Weight”. As per Monday, April 23, the company rating was maintained by Piper Jaffray.

More notable recent Phillips 66 (NYSE:PSX) news were published by: Seekingalpha.com which released: “Only a matter of time before Venezuela loses Citgo, analysts say” on August 10, 2018, also Seekingalpha.com with their article: “Reuters: Phillips 66 Alliance refinery restarting gasoline unit” published on July 23, 2018, Seekingalpha.com published: “Phillips 66: Sell Now, Buy Later” on July 22, 2018. More interesting news about Phillips 66 (NYSE:PSX) were released by: Seekingalpha.com and their article: “Phillips 66 (PSX) CEO Greg Garland on Q2 2018 Results – Earnings Call Transcript” published on July 27, 2018 as well as Seekingalpha.com‘s news article titled: “Phillips 66 Has More Value In Store” with publication date: July 30, 2018.

Investors sentiment decreased to 0.91 in Q1 2018. Its down 0.10, from 1.01 in 2017Q4. It fall, 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. Wilen Investment Corporation reported 38,589 shares. Axa has invested 0.04% in Phillips 66 (NYSE:PSX). The Virginia-based Burke & Herbert Savings Bank has invested 0.3% in Phillips 66 (NYSE:PSX). Rodgers Brothers Inc has 11,762 shares. Mcf Advisors Ltd Liability Co, a Kentucky-based fund reported 1,066 shares. Moreover, Ruffer Ltd Liability Partnership has 2.89% invested in Phillips 66 (NYSE:PSX) for 620,845 shares. Brighton Jones Limited Liability Com reported 0.04% stake. Brandywine Inv Mngmt Ltd owns 521,928 shares. Advisory Ser Limited Liability reported 16,819 shares. Coastline holds 0.26% or 17,789 shares in its portfolio. Moors And Cabot Incorporated accumulated 0.16% or 12,390 shares. Impax Asset Mngmt Llc has invested 0.03% in Phillips 66 (NYSE:PSX). Godsey And Gibb Assoc holds 0% or 122 shares in its portfolio. Retirement Systems Of Alabama invested 0.1% in Phillips 66 (NYSE:PSX). Cape Cod Five Cents Financial Bank reported 9,434 shares.

Phillips 66 (NYSE:PSX) Institutional Positions Chart

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