Phillips 66 (PSX) To Go Ex-Dividend on February 23rd

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Wednesday, February 11th. Shareholders 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 3.3%. The ex-dividend date of this dividend 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 payment 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 payout ratio of 49.2% 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 $5.08 annual dividend with an expected future payout ratio of 42.9%.

Phillips 66 Trading Up 0.2%

NYSE:PSX opened at $155.72 on Friday. The company has a 50-day moving average price of $141.98 and a 200-day moving average price of $135.98. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $163.79. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The stock has a market cap of $62.74 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 0.54 and a beta of 0.90.

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

Insider Buying and Selling

In other Phillips 66 news, EVP Brian Mandell sold 25,500 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the sale, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,959,593.52. This trade represents a 30.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the sale, the executive vice president owned 25,799 shares of the company’s stock, valued at $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 41,788 shares of company stock worth $6,067,250 in the last three months. Insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Clifford Group LLC grew its holdings in Phillips 66 by 2.0% during the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 64 shares during the period. CYBER HORNET ETFs LLC raised its stake in shares of Phillips 66 by 5.7% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock worth $158,000 after buying an additional 66 shares during the period. GHP Investment Advisors Inc. lifted its position in shares of Phillips 66 by 2.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after buying an additional 72 shares in the last quarter. Johnson Financial Group Inc. grew its stake in shares of Phillips 66 by 11.9% during the 4th quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after acquiring an additional 72 shares during the period. Finally, L2 Asset Management LLC grew its stake in shares of Phillips 66 by 4.0% during the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 72 shares during the period. 76.93% of the stock is currently owned by institutional investors.

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.