First Interstate Bank Sells 543 Shares of Phillips 66 (NYSE:PSX)

First Interstate Bank trimmed its position in Phillips 66 (NYSE:PSX) by 17.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,564 shares of the oil and gas company’s stock after selling 543 shares during the quarter. First Interstate Bank’s holdings in Phillips 66 were worth $341,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PSX. Moneta Group Investment Advisors LLC raised its stake in shares of Phillips 66 by 100,843.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock valued at $1,038,646,000 after purchasing an additional 9,969,418 shares in the last quarter. Barclays PLC raised its stake in Phillips 66 by 416.9% during the second quarter. Barclays PLC now owns 7,451,470 shares of the oil and gas company’s stock worth $710,721,000 after acquiring an additional 6,009,826 shares in the last quarter. Norges Bank acquired a new position in Phillips 66 during the fourth quarter worth $364,237,000. Wellington Management Group LLP raised its stake in Phillips 66 by 62.1% during the first quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock worth $620,979,000 after acquiring an additional 2,753,700 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Phillips 66 during the fourth quarter worth $254,336,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PSX. Raymond James increased their price objective on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Mizuho dropped their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday. JPMorgan Chase & Co. raised their target price on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. StockNews.com upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. Finally, Wells Fargo & Company raised their target price on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.86.

Phillips 66 Trading Down 1.9 %

Phillips 66 stock traded down $3.02 during mid-day trading on Tuesday, hitting $157.80. The stock had a trading volume of 1,863,804 shares, compared to its average volume of 3,039,164. The stock has a 50-day simple moving average of $153.64 and a two-hundred day simple moving average of $134.51. The stock has a market capitalization of $67.51 billion, a PE ratio of 10.26, a P/E/G ratio of 2.05 and a beta of 1.37. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The firm had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. As a group, sell-side analysts forecast that Phillips 66 will post 13.2 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 2.92%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is 27.15%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,056 shares of company stock worth $5,272,681. Insiders own 0.22% of the company’s stock.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.