Phillips 66 (NYSE:PSX) Raises Dividend to $1.27 Per Share

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Wednesday, February 11th. Investors of record on Monday, February 23rd will be paid a dividend of 1.27 per share by the oil and gas company on Wednesday, March 4th. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, February 23rd. This is a 5.8% increase from Phillips 66’s previous quarterly dividend of $1.20.

Phillips 66 has raised its dividend by an average of 0.1%annually 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 46.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Phillips 66 to earn $11.85 per share next year, which means the company should continue to be able to cover its $4.80 annual dividend with an expected future payout ratio of 40.5%.

Phillips 66 Stock Up 2.6%

PSX opened at $161.32 on Thursday. The business has a 50 day moving average price of $139.65 and a two-hundred day moving average price of $134.43. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. The company has a market cap of $65.00 billion, a PE ratio of 14.91, a P/E/G ratio of 0.56 and a beta of 0.90. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $161.53.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.32. The company had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.During the same period last year, the business posted ($0.15) EPS. As a group, research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Analysts Set New Price Targets

PSX has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. UBS Group reaffirmed a “buy” rating and issued a $172.00 target price on shares of Phillips 66 in a report on Friday, February 6th. Wolfe Research boosted their price target on shares of Phillips 66 from $159.00 to $164.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Mizuho raised their price objective on shares of Phillips 66 from $150.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, Phillips 66 has an average rating of “Hold” and a consensus price target of $157.18.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.