Phillips 66 (NYSE:PSX) declared a quarterly dividend on Wednesday, February 6th, RTT News reports. Shareholders of record on Tuesday, February 19th will be given a dividend of 0.80 per share by the oil and gas company on Friday, March 1st. This represents a $3.20 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, February 15th.
Phillips 66 has raised its dividend by an average of 12.5% per year over the last three years and has raised its dividend every year for the last 7 years. Phillips 66 has a dividend payout ratio of 41.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Phillips 66 to earn $11.44 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 28.0%.
NYSE:PSX opened at $93.52 on Friday. Phillips 66 has a one year low of $78.44 and a one year high of $123.97. The firm has a market capitalization of $43.12 billion, a price-to-earnings ratio of 7.92, a P/E/G ratio of 1.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 1.28.
Several equities analysts have commented on the stock. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday. Piper Jaffray Companies restated an “overweight” rating on shares of Phillips 66 in a research note on Thursday, January 10th. Raymond James decreased their price target on shares of Phillips 66 from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, December 31st. Jefferies Financial Group upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. Finally, Zacks Investment Research downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, November 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. Phillips 66 currently has an average rating of “Hold” and an average price target of $123.62.
In other Phillips 66 news, Director J Brian Ferguson purchased 21,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 20th. The shares were acquired at an average cost of $92.31 per share, for a total transaction of $1,984,665.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.56% of the company’s stock.
About Phillips 66
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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