Phillips 66 (NYSE:PSX) Announces Quarterly Dividend of $1.20

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Thursday, July 10th, RTT News reports. Stockholders of record on Tuesday, August 19th will be paid a dividend of 1.20 per share by the oil and gas company on Tuesday, September 2nd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Tuesday, August 19th.

Phillips 66 has a dividend payout ratio of 46.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Phillips 66 to earn $11.85 per share next year, which means the company should continue to be able to cover its $4.80 annual dividend with an expected future payout ratio of 40.5%.

Phillips 66 Price Performance

NYSE PSX opened at $131.66 on Friday. The firm’s fifty day simple moving average is $119.47 and its two-hundred day simple moving average is $117.73. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The firm has a market capitalization of $53.64 billion, a P/E ratio of 29.99, a P/E/G ratio of 2.12 and a beta of 1.02.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same period in the previous year, the company posted $1.90 earnings per share. Analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a report on Thursday, March 27th. Barclays raised their price objective on shares of Phillips 66 from $115.00 to $127.00 and gave the company an “equal weight” rating in a report on Wednesday. Compass Point assumed coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a “buy” rating on the stock. Evercore ISI started coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, Mizuho lifted their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.07.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the sale, the executive vice president owned 43,373 shares in the company, valued at approximately $5,638,490. The trade was a 9.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert W. Pease acquired 439 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the purchase, the director owned 4,091 shares in the company, valued at approximately $465,760.35. This represents a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.22% of the stock is owned by insiders.

Institutional Trading of Phillips 66

A hedge fund recently raised its stake in Phillips 66 stock. Woodline Partners LP raised its position in Phillips 66 (NYSE:PSX) by 40.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,891 shares of the oil and gas company’s stock after purchasing an additional 10,089 shares during the quarter. Woodline Partners LP’s holdings in Phillips 66 were worth $4,308,000 as of its most recent SEC filing. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Company Profile

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.