Phillips 66 to Issue Quarterly Dividend of $0.70 (PSX)

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Wednesday, February 7th, RTT News reports. Investors of record on Tuesday, February 20th will be given a dividend of 0.70 per share by the oil and gas company on Thursday, March 1st. This represents a $2.80 dividend on an annualized basis and a yield of 2.89%.

Phillips 66 has increased its dividend payment by an average of 13.0% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Phillips 66 has a dividend payout ratio of 63.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Phillips 66 to earn $7.08 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 39.5%.

Phillips 66 (PSX) traded down $0.16 during trading hours on Wednesday, reaching $96.72. The company had a trading volume of 876,699 shares, compared to its average volume of 2,055,715. The stock has a market cap of $49,400.00, a P/E ratio of 24.47, a PEG ratio of 1.54 and a beta of 1.11. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $107.47.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.21. The firm had revenue of $30.12 billion for the quarter, compared to the consensus estimate of $30.71 billion. Phillips 66 had a return on equity of 9.52% and a net margin of 4.88%. During the same quarter last year, the business posted $0.16 EPS. equities research analysts predict that Phillips 66 will post 7.26 EPS for the current fiscal year.

In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of Phillips 66 stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $100.25, for a total value of $270,675.00. Following the sale, the vice president now directly owns 2,700 shares in the company, valued at $270,675. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

A number of research analysts recently issued reports on the company. Citigroup dropped their price target on Phillips 66 from $110.00 to $103.00 and set a “neutral” rating on the stock in a research note on Tuesday. Royal Bank of Canada reiterated a “hold” rating and issued a $106.00 target price on shares of Phillips 66 in a research note on Tuesday, January 30th. Vetr upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price on the stock in a research note on Monday, October 16th. Cowen reiterated a “buy” rating and issued a $101.00 target price on shares of Phillips 66 in a research note on Tuesday, October 17th. Finally, Scotiabank reiterated a “buy” rating and issued a $112.00 target price on shares of Phillips 66 in a research note on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Phillips 66 presently has an average rating of “Hold” and an average price target of $101.64.

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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 through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.

Dividend History for Phillips 66 (NYSE:PSX)

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