Phillips 66 (NYSE:PSX) Announces $1.27 Quarterly Dividend

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Thursday, July 9th. Shareholders of record on Tuesday, August 18th will be given a dividend of 1.27 per share by the oil and gas company on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, August 18th.

Phillips 66 has increased its dividend by an average of 0.1%annually over the last three years and has increased 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. Equities research analysts expect Phillips 66 to earn $18.72 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 27.1%.

Phillips 66 Trading Up 1.1%

Shares of Phillips 66 stock opened at $189.83 on Friday. The company’s fifty day simple moving average is $176.08 and its 200-day simple moving average is $162.78. The stock has a market capitalization of $76.11 billion, a PE ratio of 18.70, a P/E/G ratio of 0.25 and a beta of 0.69. Phillips 66 has a 1-year low of $118.07 and a 1-year high of $190.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same period in the prior year, the business posted ($0.90) EPS. Phillips 66’s revenue was up 6.9% on a year-over-year basis. As a group, equities analysts anticipate that Phillips 66 will post 19.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PSX shares. Tudor Pickering raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. TD Cowen raised their price objective on Phillips 66 from $213.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. BMO Capital Markets lifted their price objective on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. increased their target price on shares of Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Finally, Zacks Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.94.

Phillips 66 Company Profile

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.