Phillips 66 Plans Quarterly Dividend of $0.90 (NYSE:PSX)

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Wednesday, July 10th, RTT News reports. Investors of record on Tuesday, August 20th will be paid a dividend of 0.90 per share by the oil and gas company on Tuesday, September 3rd. This represents a $3.60 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Monday, August 19th.

Phillips 66 has raised its dividend payment by an average of 12.5% annually over the last three years and has raised its dividend every year for the last 7 years. Phillips 66 has a dividend payout ratio of 46.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Phillips 66 to earn $10.77 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 33.4%.

Shares of NYSE:PSX opened at $98.83 on Friday. The company has a market cap of $43.72 billion, a price-to-earnings ratio of 8.56, a PEG ratio of 1.92 and a beta of 1.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.28 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $99.34 and a 200 day simple moving average of $94.08. Phillips 66 has a one year low of $78.44 and a one year high of $121.54.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.70 by $0.32. The business had revenue of $28.52 billion during the quarter, compared to the consensus estimate of $29.89 billion. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. During the same quarter in the prior year, the firm earned $2.80 EPS. As a group, analysts expect that Phillips 66 will post 7.83 EPS for the current year.

Several brokerages recently commented on PSX. Raymond James increased their price objective on shares of Phillips 66 from $110.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Morgan Stanley dropped their price target on shares of Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a research note on Friday, May 17th. Cowen raised their price target on shares of Phillips 66 from $112.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Finally, Citigroup raised shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research note on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Phillips 66 has an average rating of “Buy” and an average price target of $117.64.

In other Phillips 66 news, Director John E. Lowe purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average price of $82.91 per share, with a total value of $165,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Dividend History for Phillips 66 (NYSE:PSX)

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