Phillips 66 (PSX) to Issue Quarterly Dividend of $1.15 on December 2nd

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

Phillips 66 has increased its dividend by an average of 5.3% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Phillips 66 has a dividend payout ratio of 47.6% indicating that its dividend is sufficiently covered by earnings. 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 %

Phillips 66 stock opened at $130.91 on Friday. The company has a market cap of $54.06 billion, a P/E ratio of 16.80, a PEG ratio of 4.26 and a beta of 1.33. Phillips 66 has a 1 year low of $111.90 and a 1 year high of $174.08. The firm’s 50-day moving average is $129.75 and its 200-day moving average is $135.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm 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%. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.63 EPS. On average, equities analysts expect that Phillips 66 will post 7.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PSX. Barclays reduced their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Wells Fargo & Company cut their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. UBS Group reduced their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research report on Thursday, October 17th. Finally, Bank of America started coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

About Phillips 66

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.