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

Phillips 66 (NYSE:PSX) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders 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 3.68%.

Phillips 66 has increased its dividend by an average of 7.5% annually over the last three years. Phillips 66 has a payout ratio of 38.9% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

NYSE PSX opened at $125.05 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The stock has a market capitalization of $51.64 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 5.64 and a beta of 1.37. The business’s fifty day moving average price is $118.83 and its 200-day moving average price is $127.55.

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

Wall Street Analyst Weigh In

PSX has been the topic of several recent research reports. Mizuho lowered their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Wells Fargo & Company increased their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Bank of America began coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Finally, UBS Group lowered their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.