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.
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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