First Interstate Bank Increases Holdings in Phillips 66 $PSX

First Interstate Bank increased its stake in Phillips 66 (NYSE:PSX) by 619.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 13,938 shares of the oil and gas company’s stock after buying an additional 12,000 shares during the quarter. First Interstate Bank’s holdings in Phillips 66 were worth $1,896,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in shares of Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares during the last quarter. Woodline Partners LP grew its holdings in Phillips 66 by 40.7% during the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after purchasing an additional 10,089 shares during the period. Farther Finance Advisors LLC increased its position in Phillips 66 by 7.3% in the second quarter. Farther Finance Advisors LLC now owns 14,546 shares of the oil and gas company’s stock worth $1,735,000 after buying an additional 988 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Phillips 66 by 30.1% in the second quarter. GAMMA Investing LLC now owns 12,531 shares of the oil and gas company’s stock valued at $1,495,000 after buying an additional 2,897 shares during the period. Finally, Golden State Equity Partners bought a new stake in shares of Phillips 66 in the second quarter valued at $210,000. Institutional investors own 76.93% of the company’s stock.

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 4,394 shares of the company’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $145.00, for a total value of $637,130.00. Following the transaction, the executive vice president owned 30,193 shares of the company’s stock, valued at approximately $4,377,985. This represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brian Mandell sold 26,200 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the sale, the executive vice president owned 56,838 shares in the company, valued at $7,825,455.84. This trade represents a 31.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 86,094 shares of company stock worth $11,955,366 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 0.2%

Shares of Phillips 66 stock opened at $138.50 on Wednesday. The company’s 50-day moving average price is $136.02 and its 200-day moving average price is $132.18. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $145.68. The company has a market cap of $55.81 billion, a price-to-earnings ratio of 37.84, a PEG ratio of 0.38 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. During the same quarter in the previous year, the company earned $2.04 earnings per share. On average, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PSX has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Wolfe Research lifted their target price on shares of Phillips 66 from $158.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, December 5th. Morgan Stanley boosted their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, October 3rd. Finally, Mizuho raised their price objective on shares of Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, Phillips 66 currently has a consensus rating of “Hold” and an average target price of $150.41.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.