Phillips 66 (PSX) To Go Ex-Dividend on February 15th

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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.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, February 8th. The oil and gas company reported $4.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.76 by $2.11. Phillips 66 had a net margin of 5.72% and a return on equity of 14.97%. The firm had revenue of $29.84 billion for the quarter, compared to the consensus estimate of $35.51 billion. During the same period in the previous year, the company earned $1.07 earnings per share. On average, analysts predict that Phillips 66 will post 8.58 earnings per share for the current fiscal year.

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.

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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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Dividend History for Phillips 66 (NYSE:PSX)

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