Phillips 66 Announces Quarterly Dividend of $1.20 (NYSE:PSX)

Phillips 66 (NYSE:PSX - Get Free Report) announced a quarterly dividend on Thursday, July 10th, RTT News reports. Investors of record on Tuesday, August 19th will be paid a dividend of 1.20 per share by the oil and gas company on Tuesday, September 2nd. This represents a $4.80 dividend on an annualized basis and a yield of 3.62%.

Phillips 66 has a dividend payout ratio of 46.5% 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 $4.80 annual dividend with an expected future payout ratio of 40.5%.

Phillips 66 Price Performance

NYSE:PSX traded down $1.81 during trading hours on Friday, reaching $132.58. 914,043 shares of the company's stock were exchanged, compared to its average volume of 3,111,776. The company has a market capitalization of $54.02 billion, a P/E ratio of 30.19, a price-to-earnings-growth ratio of 2.06 and a beta of 1.02. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The business's 50-day simple moving average is $118.98 and its two-hundred day simple moving average is $117.59.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same quarter in the previous year, the business posted $1.90 earnings per share. Sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Analyst Ratings Changes

PSX has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on shares of Phillips 66 from $131.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday. Compass Point began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating for the company. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Wells Fargo & Company lowered their price target on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Finally, Scotiabank restated a "sector perform" rating and set a $133.00 price target on shares of Phillips 66 in a report on Friday. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.07.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the transaction, the executive vice president owned 43,373 shares in the company, valued at approximately $5,638,490. The trade was a 9.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the transaction, the executive vice president owned 56,838 shares in the company, valued at approximately $7,104,750. The trade was a 14.71% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.22% of the company's stock.

Institutional Trading of Phillips 66

A hedge fund recently raised its stake in Phillips 66 stock. Brighton Jones LLC boosted its holdings in Phillips 66 (NYSE:PSX - Free Report) by 238.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,239 shares of the oil and gas company's stock after acquiring an additional 7,214 shares during the quarter. Brighton Jones LLC's holdings in Phillips 66 were worth $1,166,000 at the end of the most recent quarter. 76.93% of the stock is owned by institutional investors.

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.