Phillips 66 (NYSE:PSX) Declares Dividend Increase – $1.33 Per Share

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Friday, October 16th. Investors of record on Tuesday, November 17th will be given a dividend of $1.33 per share by the oil and gas company on Tuesday, December 1st. This represents a $5.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, November 17th. This is a 4.7% increase from Phillips 66’s previous quarterly dividend of $1.27.

Phillips 66 has increased its dividend payment by an average of 0.1% per year 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 51.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Phillips 66 to earn $33.94 per share next year, which means the company should continue to be able to cover its $5.32 annual dividend with an expected future payout ratio of 15.7%.

Phillips 66 Trading Up 0.6%

Phillips 66 stock traded up $1.69 during mid-day trading on Friday, hitting $264.60. The company’s stock had a trading volume of 3,006,235 shares, compared to its average volume of 3,092,010. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.04 and a current ratio of 1.34. The company has a 50 day moving average of $268.77 and a 200-day moving average of $204.44. Phillips 66 has a one year low of $127.16 and a one year high of $299.39. The stock has a market cap of $103.21 billion, a PE ratio of 8.45, a P/E/G ratio of 0.14 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, October 28th. The oil and gas company reported $14.08 earnings per share for the quarter, topping the consensus estimate of $11.73 by $2.35. The business had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $44.91 billion. Phillips 66 had a return on equity of 33.12% and a net margin of 7.27%. During the same period last year, the company earned $2.52 earnings per share. On average, research analysts anticipate that Phillips 66 will post 33.79 EPS for the current year.

Insider Activity at Phillips 66

In related news, EVP Brian Mandell sold 23,400 shares of Phillips 66 stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $265.06, for a total transaction of $6,202,404.00. Following the completion of the transaction, the executive vice president directly owned 61,595 shares in the company, valued at approximately $16,326,370.70. This trade represents a 27.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phillips 66

Hedge funds have recently made changes to their positions in the company. Richardson Financial Services Inc. boosted its stake in Phillips 66 by 142.5% during the third quarter. Richardson Financial Services Inc. now owns 97 shares of the oil and gas company’s stock worth $25,000 after buying an additional 57 shares during the last quarter. NFSG Corp increased its position in Phillips 66 by 105.6% during the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Axiom Investment Management LLC purchased a new position in Phillips 66 during the first quarter worth about $27,000. Compass Financial Management LLC acquired a new position in Phillips 66 in the 2nd quarter valued at about $28,000. Finally, Kelleher Financial Advisors acquired a new position in Phillips 66 in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an integrated energy company with businesses spanning refining, midstream operations, chemicals, and marketing. It processes crude oil and other feedstocks into transportation fuels and other petroleum products, including gasoline, diesel, and jet fuel. The company’s midstream operations include the transportation, processing, storage, and marketing of crude oil, natural gas, natural gas liquids, and refined products. Phillips 66 also markets fuels and related products through retail and wholesale channels, including under the Phillips 66, 76, and JET brands.