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.
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.
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