Rnc Capital Management Has Trimmed Abbvie (ABBV) Position by $20.41 Million as Valuation Rose; As Phillips 66 (PSX) Market Value Declined, Shareholder Greylin Investment Mangement Has Lowered Position by $479,115

January 18, 2018 - By Migdalia James

Rnc Capital Management Llc decreased its stake in Abbvie Inc (ABBV) by 33.07% based on its latest 2017Q3 regulatory filing with the SEC. Rnc Capital Management Llc sold 231,911 shares as the company’s stock rose 6.17% with the market. The institutional investor held 469,415 shares of the major pharmaceuticals company at the end of 2017Q3, valued at $41.71M, down from 701,326 at the end of the previous reported quarter. Rnc Capital Management Llc who had been investing in Abbvie Inc for a number of months, seems to be less bullish one the $166.70B market cap company. The stock increased 0.06% or $0.06 during the last trading session, reaching $104.42. About 2.74M shares traded. AbbVie Inc. (NYSE:ABBV) has risen 10.63% since January 18, 2017 and is uptrending. It has underperformed by 6.07% the S&P500.

Greylin Investment Mangement Inc decreased its stake in Phillips 66 (PSX) by 7.33% based on its latest 2017Q3 regulatory filing with the SEC. Greylin Investment Mangement Inc sold 5,265 shares as the company’s stock declined 0.52% while stock markets rallied. The institutional investor held 66,520 shares of the integrated oil company at the end of 2017Q3, valued at $6.09M, down from 71,785 at the end of the previous reported quarter. Greylin Investment Mangement Inc who had been investing in Phillips 66 for a number of months, seems to be less bullish one the $53.93B market cap company. The stock decreased 0.69% or $0.73 during the last trading session, reaching $105.43. About 658,370 shares traded. Phillips 66 (NYSE:PSX) has risen 0.77% since January 18, 2017 and is uptrending. It has underperformed by 15.93% the S&P500.

Since September 19, 2017, it had 0 buys, and 2 sales for $373,204 activity.

Analysts await Phillips 66 (NYSE:PSX) to report earnings on February, 2. They expect $1.27 earnings per share, up 693.75% or $1.11 from last year’s $0.16 per share. PSX’s profit will be $649.62 million for 20.75 P/E if the $1.27 EPS becomes a reality. After $1.66 actual earnings per share reported by Phillips 66 for the previous quarter, Wall Street now forecasts -23.49% negative EPS growth.

Investors sentiment increased to 0.92 in Q3 2017. Its up 0.07, from 0.85 in 2017Q2. It increased, as 40 investors sold PSX shares while 369 reduced holdings. 94 funds opened positions while 282 raised stakes. 353.24 million shares or 0.95% more from 349.91 million shares in 2017Q2 were reported. Envestnet Asset Management stated it has 220,580 shares or 0.05% of all its holdings. Ifc Hldg Incorporated Fl holds 0.08% or 12,698 shares in its portfolio. Savant Limited Liability Corp reported 0.13% of its portfolio in Phillips 66 (NYSE:PSX). 11,740 are owned by Corecommodity Management. Goodman Fincl Corp holds 0.21% in Phillips 66 (NYSE:PSX) or 4,596 shares. Denali Advsrs Ltd Liability Corp has 0.75% invested in Phillips 66 (NYSE:PSX). Cadence Capital Mgmt Ltd Liability reported 0.42% in Phillips 66 (NYSE:PSX). First Mercantile has invested 0.13% in Phillips 66 (NYSE:PSX). 3,096 are held by Syntal Cap Prtnrs Limited Liability Company. 47,674 were reported by Teachers Retirement Systems Of The State Of Kentucky. Westwood Gp Inc holds 0% or 4,369 shares in its portfolio. Copeland Mngmt Ltd Liability reported 31,395 shares. Northpointe Lc holds 0.34% or 35,206 shares. Moreover, Goldman Sachs Gru Inc has 0.11% invested in Phillips 66 (NYSE:PSX) for 4.89 million shares. Lombard Odier Asset (Europe) Ltd holds 5,276 shares or 0.03% of its portfolio.

Greylin Investment Mangement Inc, which manages about $435.83M and $436.72M US Long portfolio, upped its stake in Helmerich & Payne Inc (NYSE:HP) by 50,130 shares to 99,995 shares, valued at $5.21M in 2017Q3, according to the filing. It also increased its holding in Qualcomm Inc (NASDAQ:QCOM) by 26,695 shares in the quarter, for a total of 155,350 shares, and has risen its stake in Nordic American Tankers Limi (NYSE:NAT).

Among 18 analysts covering Phillips 66 (NYSE:PSX), 8 have Buy rating, 2 Sell and 8 Hold. Therefore 44% are positive. Phillips 66 had 64 analyst reports since August 4, 2015 according to SRatingsIntel. The firm has “Sector Outperform” rating given on Thursday, September 28 by Howard Weil. The firm has “Outperform” rating by Oppenheimer given on Friday, September 18. The firm has “Outperform” rating by Credit Suisse given on Tuesday, October 27. As per Monday, October 10, the company rating was maintained by . Jefferies downgraded the shares of PSX in report on Monday, October 16 to “Underperform” rating. Citigroup downgraded Phillips 66 (NYSE:PSX) rating on Wednesday, April 20. Citigroup has “Hold” rating and $88 target. The company was maintained on Friday, April 21 by RBC Capital Markets. The firm earned “Overweight” rating on Monday, November 2 by Barclays Capital. The rating was upgraded by Goldman Sachs on Tuesday, October 3 to “Buy”. Credit Suisse downgraded the stock to “Neutral” rating in Monday, November 2 report.

Analysts await AbbVie Inc. (NYSE:ABBV) to report earnings on January, 26. They expect $1.43 earnings per share, up 19.17% or $0.23 from last year’s $1.2 per share. ABBV’s profit will be $2.28 billion for 18.26 P/E if the $1.43 EPS becomes a reality. After $1.41 actual earnings per share reported by AbbVie Inc. for the previous quarter, Wall Street now forecasts 1.42% EPS growth.

Investors sentiment decreased to 0.85 in 2017 Q3. Its down 0.15, from 1 in 2017Q2. It turned negative, as 55 investors sold ABBV shares while 640 reduced holdings. 132 funds opened positions while 462 raised stakes. 1.06 billion shares or 1.89% more from 1.04 billion shares in 2017Q2 were reported. Savings Bank Of The West reported 63,002 shares. Gilman Hill Asset Mngmt Ltd invested in 0.52% or 14,316 shares. Argyle Capital Mngmt Inc stated it has 12,650 shares or 0.44% of all its holdings. New York-based Lagoda Inv Limited Partnership has invested 0.02% in AbbVie Inc. (NYSE:ABBV). Riverhead Ltd accumulated 13,289 shares or 0.06% of the stock. North Star Asset Mgmt accumulated 17,030 shares. Cordasco Fin accumulated 2,000 shares. Grand Jean Inc invested 0.36% in AbbVie Inc. (NYSE:ABBV). Train Babcock invested in 10,380 shares. Wagner Bowman Mngmt Corporation reported 15,222 shares stake. Fort Ltd Partnership invested in 2.86% or 130,697 shares. Wealthtrust Fairport Ltd reported 114,340 shares. 651,673 are owned by British Columbia Corporation. Umb Financial Bank N A Mo, a Missouri-based fund reported 200,801 shares. Poplar Forest Cap Ltd Co has 0.12% invested in AbbVie Inc. (NYSE:ABBV) for 15,250 shares.

Among 21 analysts covering Abbvie Inc (NYSE:ABBV), 11 have Buy rating, 1 Sell and 9 Hold. Therefore 52% are positive. Abbvie Inc had 71 analyst reports since July 21, 2015 according to SRatingsIntel. The stock has “Buy” rating by SunTrust on Sunday, October 29. Goldman Sachs downgraded it to “Buy” rating and $68 target in Monday, March 7 report. The firm has “Outperform” rating given on Monday, October 2 by Leerink Swann. The stock of AbbVie Inc. (NYSE:ABBV) has “Hold” rating given on Sunday, July 30 by BMO Capital Markets. Jefferies maintained AbbVie Inc. (NYSE:ABBV) on Tuesday, January 16 with “Buy” rating. Atlantic Securities initiated the shares of ABBV in report on Friday, December 18 with “Neutral” rating. Leerink Swann maintained AbbVie Inc. (NYSE:ABBV) rating on Monday, October 30. Leerink Swann has “Outperform” rating and $107 target. As per Friday, June 10, the company rating was downgraded by BMO Capital Markets. As per Wednesday, October 11, the company rating was upgraded by Cowen & Co. The stock of AbbVie Inc. (NYSE:ABBV) earned “Hold” rating by Credit Suisse on Wednesday, June 7.

Since July 31, 2017, it had 0 insider purchases, and 8 insider sales for $45.57 million activity. On Thursday, December 14 the insider Schumacher Laura J sold $14.07 million. RICHMOND TIMOTHY J. had sold 87,040 shares worth $8.57 million. Shares for $705,655 were sold by SALEKI-GERHARDT AZITA on Monday, September 11. 193,131 shares valued at $13.71M were sold by GONZALEZ RICHARD A on Monday, August 7. Michael Robert A. sold 6,699 shares worth $589,512.

Rnc Capital Management Llc, which manages about $4.08 billion and $1.33B US Long portfolio, upped its stake in Noble Energy Inc (NYSE:NBL) by 56,661 shares to 216,501 shares, valued at $6.14 million in 2017Q3, according to the filing. It also increased its holding in Amgen Inc (NASDAQ:AMGN) by 34,496 shares in the quarter, for a total of 174,064 shares, and has risen its stake in Philip Morris Intl Inc (NYSE:PM).

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