Phillips 66 (NYSE:PSX) declared a quarterly dividend on Wednesday, February 6th, RTT News reports. Investors of record on Tuesday, February 19th will be paid a dividend of 0.80 per share by the oil and gas company on Friday, March 1st. This represents a $3.20 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Friday, February 15th.
Phillips 66 has raised its dividend payment by an average of 12.5% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Phillips 66 has a payout ratio of 41.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Phillips 66 to earn $11.44 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 28.0%.
Shares of NYSE PSX opened at $93.52 on Friday. The company has a market capitalization of $43.12 billion, a P/E ratio of 7.92, a price-to-earnings-growth ratio of 1.28 and a beta of 0.94. Phillips 66 has a 1 year low of $78.44 and a 1 year high of $123.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.28 and a quick ratio of 0.82.
In other news, Director J Brian Ferguson bought 21,500 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was acquired at an average price of $92.31 per share, with a total value of $1,984,665.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.
PSX has been the subject of a number of research reports. Morgan Stanley dropped their price objective on shares of Phillips 66 from $140.00 to $120.00 and set a “hold” rating for the company in a report on Tuesday, November 20th. Wells Fargo & Co raised their price objective on shares of Phillips 66 from $137.00 to $140.00 and gave the company a “buy” rating in a report on Monday, October 29th. Jefferies Financial Group upgraded shares of Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 price objective for the company in a report on Tuesday, October 16th. JPMorgan Chase & Co. upgraded shares of Phillips 66 from a “neutral” rating to an “overweight” rating and set a $138.00 price objective for the company in a report on Tuesday, October 30th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, November 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $123.62.
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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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