Phillips 66 (PSX) Announces $0.63 Quarterly Dividend
Phillips 66 (NYSE:PSX) announced a quarterly dividend on Friday, October 7th. Shareholders of record on Thursday, November 17th will be paid a dividend of 0.63 per share on Thursday, December 1st. This represents a $2.52 dividend on an annualized basis and a yield of 3.12%.
Shares of Phillips 66 (NYSE:PSX) traded down 0.69% during midday trading on Friday, reaching $80.21. The company’s stock had a trading volume of 570,435 shares. Phillips 66 has a 12-month low of $71.74 and a 12-month high of $94.12. The company’s 50-day moving average price is $79.13 and its 200 day moving average price is $80.21. The company has a market capitalization of $41.94 billion, a P/E ratio of 13.88 and a beta of 1.37.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 29th. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. Phillips 66 had a net margin of 3.51% and a return on equity of 13.44%. During the same period in the prior year, the firm posted $1.83 EPS. On average, equities research analysts forecast that Phillips 66 will post $3.41 earnings per share for the current year.
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Several equities research analysts have recently commented on PSX shares. Vetr upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $87.26 target price on the stock in a research note on Wednesday, July 6th. Howard Weil cut Phillips 66 from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $90.00 to $89.00 in a report on Monday, July 11th. Morgan Stanley cut Phillips 66 from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $105.00 to $90.00 in a report on Friday, June 17th. Wells Fargo & Co. cut Phillips 66 from an “outperform” rating to a “market perform” rating in a report on Friday, July 8th. Finally, Piper Jaffray Cos. lifted their price target on Phillips 66 from $68.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, August 22nd. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $86.23.
In other news, major shareholder Berkshire Hathaway Inc bought 290,116 shares of Phillips 66 stock in a transaction dated Monday, August 22nd. The shares were purchased at an average cost of $77.04 per share, with a total value of $22,350,536.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.05% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Cognios Capital LLC boosted its stake in shares of Phillips 66 by 0.3% in the second quarter. Cognios Capital LLC now owns 2,754 shares of the company’s stock valued at $218,000 after buying an additional 9 shares during the period. Delphi Private Advisors LLC raised its position in Phillips 66 by 1.0% in the second quarter. Delphi Private Advisors LLC now owns 1,781 shares of the company’s stock valued at $141,000 after buying an additional 18 shares in the last quarter. Fiduciary Financial Services of The Southwest Inc. TX raised its position in Phillips 66 by 0.5% in the second quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 8,270 shares of the company’s stock valued at $656,000 after buying an additional 42 shares in the last quarter. Northeast Financial Consultants Inc raised its position in Phillips 66 by 0.4% in the second quarter. Northeast Financial Consultants Inc now owns 11,925 shares of the company’s stock valued at $945,000 after buying an additional 50 shares in the last quarter. Finally, Holderness Investments Co. raised its position in Phillips 66 by 3.0% in the second quarter. Holderness Investments Co. now owns 2,711 shares of the company’s stock valued at $215,000 after buying an additional 80 shares in the last quarter. 69.98% of the stock is currently owned by hedge funds and other institutional investors.
Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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