Phillips 66 Plans Quarterly Dividend of $1.15 (NYSE:PSX)

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 raised its dividend 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% meaning 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 Stock Up 0.9 %

Shares of NYSE PSX opened at $130.91 on Friday. The stock has a market cap of $54.06 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 4.29 and a beta of 1.33. Phillips 66 has a 52-week low of $111.90 and a 52-week high of $174.08. The business has a 50-day moving average price of $129.75 and a 200 day moving average price of $135.76. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same period last year, the firm posted $4.63 earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities research analysts forecast that Phillips 66 will post 7.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Barclays decreased their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Wells Fargo & Company decreased their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Finally, Morgan Stanley dropped their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.