Phillips 66 Announces Quarterly Dividend of $0.70 (NYSE:PSX)

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Wednesday, February 7th, RTT News reports. Shareholders 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 2.99%. The ex-dividend date of this dividend is Friday, February 16th.

Phillips 66 has raised its dividend payment by an average of 13.0% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Phillips 66 has a payout ratio of 63.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Phillips 66 to earn $7.19 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 38.9%.

Phillips 66 (PSX) opened at $93.73 on Thursday. The firm has a market capitalization of $47,067.52, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31. 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 data on Friday, February 2nd. The oil and gas company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.86 by $0.21. The company had revenue of $30.12 billion during 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 in the prior year, the firm posted $0.16 EPS. sell-side analysts expect that Phillips 66 will post 7.23 earnings per share for the current year.

In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 2,700 shares in the company, valued at $270,675. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.

PSX has been the subject of several recent analyst reports. UBS Group increased their price objective on Phillips 66 from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, November 15th. Vetr raised Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price objective for the company in a report on Monday, November 13th. JPMorgan Chase & Co. increased their price objective on Phillips 66 from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Goldman Sachs Group upgraded Phillips 66 to a “buy” rating in a research note on Monday, December 18th. Finally, Piper Jaffray Companies set a $93.00 price target on Phillips 66 and gave the company a “buy” rating in a research note on Monday, November 13th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $103.89.

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About Phillips 66

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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