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

Phillips 66 (NYSE:PSX - Get Free Report) announced a quarterly dividend on Monday, April 21st, RTT News reports. Shareholders of record on Monday, May 19th will be paid a dividend of 1.20 per share by the oil and gas company on Monday, June 2nd. This represents a $4.80 dividend on an annualized basis and a yield of 4.94%. This is a 4.3% increase from Phillips 66's previous quarterly dividend of $1.15.

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 41.2% 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 Stock Performance

NYSE PSX traded down $1.96 on Monday, reaching $97.14. 2,326,552 shares of the stock were exchanged, compared to its average volume of 2,891,514. The firm has a market capitalization of $39.58 billion, a PE ratio of 19.66, a PEG ratio of 4.84 and a beta of 1.17. Phillips 66 has a one year low of $91.01 and a one year high of $159.25. The company's 50-day simple moving average is $118.36 and its two-hundred day simple moving average is $122.24. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS 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 period in the previous year, the company earned $3.09 earnings per share. Analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PSX has been the topic of a number of research reports. Raymond James reduced their price target on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Scotiabank reduced their price objective on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Mizuho cut their target price on shares of Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Barclays lowered their price objective on shares of Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Finally, The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price on the stock. in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.00.

Hedge Funds Weigh In On Phillips 66

An institutional investor recently raised its position in Phillips 66 stock. Brighton Jones LLC grew its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 238.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Company Profile

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.

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