Phillips 66 (NYSE:PSX) Plans $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 given 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 3.57%. The ex-dividend date of this dividend is Monday, February 24th.

Phillips 66 has increased its dividend by an average of 7.5% annually over the last three years and has raised its dividend every year for the last 13 years. Phillips 66 has a payout ratio of 38.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Phillips 66 to earn $11.85 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 Price Performance

PSX opened at $128.78 on Friday. The business has a fifty day moving average of $119.17 and a 200 day moving average of $127.11. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market cap of $53.18 billion, a P/E ratio of 26.07, a PEG ratio of 4.84 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted $3.09 EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com upgraded Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday. Barclays lowered their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company upped their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, UBS Group lowered their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Phillips 66 currently 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.