Cambridge Trust Co. Purchases 306 Shares of Phillips 66 (NYSE:PSX)

Cambridge Trust Co. grew its position in Phillips 66 (NYSE:PSX – Get Rating) by 5.7% during the fourth quarter, HoldingsChannel reports. The firm owned 5,632 shares of the oil and gas company’s stock after buying an additional 306 shares during the period. Cambridge Trust Co.’s holdings in Phillips 66 were worth $586,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. CWA Asset Management Group LLC boosted its stake in shares of Phillips 66 by 17.2% in the 4th quarter. CWA Asset Management Group LLC now owns 4,948 shares of the oil and gas company’s stock valued at $515,000 after purchasing an additional 725 shares during the last quarter. Align Wealth Management LLC acquired a new position in shares of Phillips 66 during the 4th quarter valued at $28,000. MinichMacGregor Wealth Management LLC acquired a new position in shares of Phillips 66 during the 4th quarter valued at $162,000. Wedmont Private Capital acquired a new position in shares of Phillips 66 during the 4th quarter valued at $283,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Phillips 66 by 41.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 10,726 shares of the oil and gas company’s stock valued at $1,116,000 after acquiring an additional 3,118 shares during the period. 70.76% of the stock is owned by institutional investors.

Phillips 66 Stock Performance

Shares of PSX stock opened at $94.72 on Friday. The firm has a 50-day moving average of $102.53 and a 200-day moving average of $99.39. The company has a market cap of $43.94 billion, a P/E ratio of 4.13, a P/E/G ratio of 0.33 and a beta of 1.37. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.38 and a quick ratio of 1.17. Phillips 66 has a one year low of $74.02 and a one year high of $113.53.

Phillips 66 (NYSE:PSX – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.35). The company had revenue of $40.91 billion for the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a net margin of 6.27% and a return on equity of 31.20%. During the same quarter in the previous year, the company posted $2.94 EPS. Equities research analysts forecast that Phillips 66 will post 15.68 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Friday, February 17th. This represents a $4.20 annualized dividend and a yield of 4.43%. This is a positive change from Phillips 66’s previous quarterly dividend of $0.97. Phillips 66’s dividend payout ratio is presently 18.30%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PSX. Mizuho dropped their target price on shares of Phillips 66 from $121.00 to $120.00 in a research report on Friday, March 10th. Piper Sandler lowered their price objective on shares of Phillips 66 from $155.00 to $137.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. StockNews.com began coverage on shares of Phillips 66 in a report on Thursday. They set a “buy” rating on the stock. Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $134.00 to $127.00 and set an “overweight” rating on the stock in a report on Thursday, January 5th. Finally, UBS Group began coverage on shares of Phillips 66 in a report on Wednesday, March 8th. They set a “buy” rating and a $139.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.27.

Insider Activity at Phillips 66

In related news, Director Gregory Hayes purchased 10,250 shares of Phillips 66 stock in a transaction that occurred on Thursday, February 2nd. The stock was bought at an average price of $97.75 per share, for a total transaction of $1,001,937.50. Following the completion of the transaction, the director now owns 14,299 shares in the company, valued at $1,397,727.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.74% of the stock is owned by company insiders.

Phillips 66 Company Profile

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.