Phillips 66 (NYSE:PSX) Announces $1.15 Quarterly Dividend

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Friday, October 11th,RTT News reports. Stockholders of record on Monday, November 18th will be paid a dividend of 1.15 per share by the oil and gas company on Monday, December 2nd. This represents a $4.60 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, November 18th.

Phillips 66 has raised its dividend payment by an average of 5.3% per year over the last three years and has increased its dividend every year for the last 13 years. Phillips 66 has a dividend payout ratio of 47.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Phillips 66 to earn $9.48 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 48.5%.

Phillips 66 Trading Up 0.9 %

PSX opened at $130.91 on Friday. The firm has a 50 day simple moving average of $129.75 and a 200 day simple moving average of $135.81. Phillips 66 has a fifty-two week low of $111.90 and a fifty-two week high of $174.08. The company has a market cap of $54.06 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 4.26 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.63 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 7.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on PSX. Mizuho dropped their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Wells Fargo & Company lowered their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Scotiabank cut their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Barclays decreased their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

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.