Phillips 66 (NYSE:PSX) Announces $1.15 Quarterly Dividend

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors 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 yield of 3.68%.

Phillips 66 has increased its dividend payment by an average of 7.5% per year over the last three years. Phillips 66 has a payout ratio of 38.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 3.5 %

NYSE PSX opened at $125.05 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The stock has a market cap of $51.64 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. The stock has a 50 day simple moving average of $118.83 and a two-hundred day simple moving average of $127.55.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 quarter in the prior year, the firm posted $3.09 earnings per share. On average, analysts forecast that Phillips 66 will post 7.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on PSX. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Wells Fargo & Company increased their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Mizuho lowered their price target 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 lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Piper Sandler downgraded 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 given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target 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.