Phillips 66 (PSX) to Issue Quarterly Dividend of $1.27 on June 1st

Phillips 66 (NYSE:PSX) announced a quarterly dividend on Friday, April 17th. Investors of record on Monday, May 18th will be given a dividend of 1.27 per share by the oil and gas company on Monday, June 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th.

Phillips 66 has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Phillips 66 has a dividend payout ratio of 49.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Phillips 66 to earn $18.08 per share next year, which means the company should continue to be able to cover its $5.08 annual dividend with an expected future payout ratio of 28.1%.

Phillips 66 Trading Up 2.9%

NYSE PSX opened at $176.42 on Friday. Phillips 66 has a 52 week low of $109.75 and a 52 week high of $190.61. The firm has a 50 day moving average of $170.79 and a two-hundred day moving average of $151.81. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $70.73 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 0.26 and a beta of 0.70.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The business had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned ($0.90) EPS. As a group, research analysts expect that Phillips 66 will post 17.39 EPS for the current fiscal year.

Insider Activity

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of Phillips 66 stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the transaction, the executive vice president owned 38,488 shares of the company’s stock, valued at $6,158,080. The trade was a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kevin Omar Meyers acquired 175 shares of Phillips 66 stock in a transaction on Wednesday, May 6th. The stock was purchased at an average price of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. The trade was a 1.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 121,529 shares of company stock worth $20,841,455 over the last ninety days. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of Phillips 66

A number of large investors have recently bought and sold shares of PSX. NFSG Corp grew its position in Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Phillips 66 in the 4th quarter worth $26,000. Accordant Advisory Group Inc boosted its holdings in shares of Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 180 shares in the last quarter. SWAN Capital LLC boosted its holdings in shares of Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Phillips 66 during the fourth quarter worth about $27,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.