Phillips 66 (PSX) to Issue Quarterly Dividend of $1.15 on March 5th

Phillips 66 (NYSE:PSX) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders of record on Monday, February 24th will be paid a dividend of 1.15 per share by the oil and gas company on Wednesday, March 5th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Monday, February 24th.

Phillips 66 has increased its dividend by an average of 7.5% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Phillips 66 has a dividend payout ratio of 38.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Phillips 66 to earn $11.87 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 38.8%.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $125.70 on Friday. The company has a market cap of $51.91 billion, a PE ratio of 25.44, a P/E/G ratio of 5.64 and a beta of 1.37. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The firm has a 50-day simple moving average of $118.83 and a 200 day simple moving average of $127.55. 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 posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the business earned $3.09 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 7.14 EPS for the current year.

Wall Street Analyst Weigh In

PSX has been the topic of several analyst reports. Bank of America initiated coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday. Mizuho decreased their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. UBS Group cut their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

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.