Phillips 66 (PSX) to Distribute Quarterly Dividend of $0.90 on September 3rd

Phillips 66 (NYSE:PSX) announced a quarterly dividend on Wednesday, July 10th, RTT News reports. Stockholders of record on Tuesday, August 20th will be paid a dividend of 0.90 per share by the oil and gas company on Tuesday, September 3rd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.61%.

Phillips 66 has raised its dividend payment by an average of 12.5% per year over the last three years and has increased its dividend every year for the last 7 years. Phillips 66 has a dividend payout ratio of 46.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Phillips 66 to earn $10.48 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 34.4%.

Shares of NYSE:PSX opened at $99.59 on Friday. Phillips 66 has a one year low of $78.44 and a one year high of $123.97. The firm’s fifty day moving average is $88.51. The firm has a market cap of $44.50 billion, a P/E ratio of 8.50, a PEG ratio of 1.94 and a beta of 1.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.84.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. Phillips 66 had a return on equity of 19.96% and a net margin of 4.63%. The company had revenue of $23.66 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, research analysts expect that Phillips 66 will post 7.21 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on the company. Bank of America reiterated a “buy” rating and set a $420.00 price objective (up previously from $400.00) on shares of Lendingtree in a research report on Monday, April 29th. ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Citigroup increased their target price on from GBX 1,300 ($16.99) to GBX 1,450 ($18.95) and gave the company a “buy” rating in a report on Friday, June 21st. Morgan Stanley restated an “overweight” rating and issued a GBX 460 ($6.01) target price on shares of Sophos Group in a report on Friday, May 17th. Finally, Jefferies Financial Group began coverage on Pinduoduo in a report on Monday, April 15th. They issued a “buy” rating and a $30.00 target price for the company. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Phillips 66 currently has a consensus rating of “Buy” and an average price target of $117.82.

In other Phillips 66 news, Director John E. Lowe bought 2,000 shares of Phillips 66 stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $82.91 per share, for a total transaction of $165,820.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by corporate insiders.

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; provides terminaling and storage services for crude oil and 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.

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Dividend History for Phillips 66 (NYSE:PSX)

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