Cambridge Trust Co. Has $586,000 Stake in Phillips 66 (NYSE:PSX)

Cambridge Trust Co. increased its stake in shares of Phillips 66 (NYSE:PSX – Get Rating) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,632 shares of the oil and gas company’s stock after acquiring an additional 306 shares during the period. Cambridge Trust Co.’s holdings in Phillips 66 were worth $586,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hallmark Capital Management Inc. grew its position in Phillips 66 by 62.5% in the third quarter. Hallmark Capital Management Inc. now owns 325 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 125 shares in the last quarter. Horan Securities Inc. grew its position in Phillips 66 by 210.6% in the third quarter. Horan Securities Inc. now owns 351 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 238 shares in the last quarter. Align Wealth Management LLC bought a new position in Phillips 66 in the fourth quarter valued at $28,000. Core Alternative Capital grew its position in Phillips 66 by 218.3% in the third quarter. Core Alternative Capital now owns 366 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 251 shares in the last quarter. Finally, Worth Asset Management LLC bought a new position in Phillips 66 in the first quarter valued at $32,000. 70.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of analyst reports. UBS Group initiated coverage on shares of Phillips 66 in a research report on Wednesday, March 8th. They issued a “buy” rating and a $139.00 target price for the company. StockNews.com initiated coverage on shares of Phillips 66 in a research report on Thursday. They issued a “buy” rating for the company. Wells Fargo & Company decreased their price objective on shares of Phillips 66 from $134.00 to $127.00 and set an “overweight” rating for the company in a research report on Thursday, January 5th. Morgan Stanley lifted their price objective on shares of Phillips 66 from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, January 20th. Finally, Mizuho decreased their price objective on shares of Phillips 66 from $121.00 to $120.00 in a research report on Friday, March 10th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.27.

Insider Activity

In other news, Director Gregory Hayes bought 10,250 shares of the company’s stock in a transaction dated Thursday, February 2nd. The stock was bought at an average cost of $97.75 per share, for a total transaction of $1,001,937.50. Following the transaction, the director now owns 14,299 shares of the company’s stock, valued at $1,397,727.25. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.74% of the company’s stock.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $94.72 on Friday. Phillips 66 has a twelve month low of $74.02 and a twelve month high of $113.53. The company has a quick ratio of 1.17, a current ratio of 1.38 and a debt-to-equity ratio of 0.49. The company has a 50-day simple moving average of $102.53 and a two-hundred day simple moving average of $99.39. The stock has a market capitalization of $43.94 billion, a price-to-earnings ratio of 4.13, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37.

Phillips 66 (NYSE:PSX – Get Rating) last issued its quarterly earnings data 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). Phillips 66 had a return on equity of 31.20% and a net margin of 6.27%. The business had revenue of $40.91 billion during the quarter, compared to analyst estimates of $34.30 billion. During the same quarter last year, the firm earned $2.94 EPS. Analysts forecast that Phillips 66 will post 15.68 EPS for the current year.

Phillips 66 Increases Dividend

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

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.