Phillips 66 (PSX) To Go Ex-Dividend on August 18th

Phillips 66 (NYSE:PSX) announced a quarterly dividend on Thursday, July 9th. Stockholders of record on Tuesday, August 18th will be given a dividend of 1.27 per share by the oil and gas company on Tuesday, September 1st. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, August 18th.

Phillips 66 has increased its dividend 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 49.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Phillips 66 to earn $20.84 per share next year, which means the company should continue to be able to cover its $5.08 annual dividend with an expected future payout ratio of 24.4%.

Phillips 66 Stock Up 0.3%

PSX stock opened at $233.29 on Friday. Phillips 66 has a one year low of $121.24 and a one year high of $236.14. The firm has a market cap of $93.09 billion, a PE ratio of 13.29, a PEG ratio of 0.17 and a beta of 0.68. The firm’s 50 day moving average price is $192.72 and its 200-day moving average price is $175.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The company had revenue of $52.04 billion during the quarter, compared to analysts’ expectations of $43.60 billion. During the same quarter last year, the firm earned $2.38 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post 24.44 EPS for the current year.

Insider Activity

In other Phillips 66 news, EVP Richard G. Harbison sold 52,100 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total value of $11,657,896.00. Following the sale, the executive vice president directly owned 39,094 shares of the company’s stock, valued at approximately $8,747,673.44. This represents a 57.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $18,504,361.28. This trade represents a 10.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 100,507 shares of company stock worth $21,770,810 over the last three months. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Several institutional investors have recently added to or reduced their stakes in the business. MUFG Securities EMEA plc boosted its holdings in shares of Phillips 66 by 113.5% in the 4th quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock valued at $2,131,000 after buying an additional 8,783 shares in the last quarter. Horizon Investments LLC raised its stake in Phillips 66 by 478.4% during the 4th quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company’s stock worth $8,167,000 after acquiring an additional 52,348 shares in the last quarter. Truist Financial Corp lifted its position in Phillips 66 by 1.6% in the fourth quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company’s stock valued at $87,113,000 after acquiring an additional 10,585 shares during the last quarter. Fifth Third Bancorp lifted its position in Phillips 66 by 543.7% in the first quarter. Fifth Third Bancorp now owns 128,156 shares of the oil and gas company’s stock valued at $23,348,000 after acquiring an additional 108,248 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in Phillips 66 by 1.7% in the fourth quarter. HighTower Advisors LLC now owns 369,586 shares of the oil and gas company’s stock valued at $47,691,000 after acquiring an additional 6,058 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

About Phillips 66

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.