Phillips 66 (NYSE:PSX) to Issue $1.15 Quarterly Dividend

Phillips 66 (NYSE:PSXGet Free Report) announced a quarterly dividend on Wednesday, July 10th, RTT News reports. Investors of record on Tuesday, August 20th will be given a dividend of 1.15 per share by the oil and gas company on Tuesday, September 3rd. This represents a $4.60 dividend on an annualized basis and a yield of 3.43%.

Phillips 66 has raised its dividend by an average of 5.3% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Phillips 66 has a payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Phillips 66 to earn $13.24 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 34.7%.

Phillips 66 Stock Performance

PSX traded up $1.16 during trading on Wednesday, reaching $133.97. 2,052,291 shares of the company’s stock were exchanged, compared to its average volume of 2,744,899. Phillips 66 has a fifty-two week low of $98.65 and a fifty-two week high of $174.08. The company has a market capitalization of $56.80 billion, a P/E ratio of 10.22, a PEG ratio of 2.13 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $140.76 and a 200 day moving average price of $145.12.

Phillips 66 (NYSE:PSXGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period last year, the company earned $4.21 EPS. As a group, analysts predict that Phillips 66 will post 10.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. TD Cowen decreased their price target on Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Raymond James cut their price objective on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Argus reissued a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Finally, Mizuho reduced their price target on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.64.

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About Phillips 66

(Get Free Report)

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.

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Dividend History for Phillips 66 (NYSE:PSX)

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