Phillips 66 (NYSE:PSX) Announces $1.27 Quarterly Dividend

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Thursday, July 9th. Investors of record on Tuesday, August 18th will be given a dividend of 1.27 per share by the oil and gas company on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 18th.

Phillips 66 has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Phillips 66 has a payout ratio of 49.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Phillips 66 to earn $18.72 per share next year, which means the company should continue to be able to cover its $5.08 annual dividend with an expected future payout ratio of 27.1%.

Phillips 66 Trading Up 1.1%

Shares of PSX stock opened at $189.83 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $190.66. The firm’s 50 day moving average price is $176.08 and its two-hundred day moving average price is $162.78. The stock has a market cap of $76.11 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 0.25 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.90) EPS. On average, analysts anticipate that Phillips 66 will post 19.27 EPS for the current year.

Insider Buying and Selling

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of Phillips 66 stock in a transaction dated Wednesday, May 6th. The stock was bought at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin J. Mitchell sold 600 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $171.56, for a total transaction of $102,936.00. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $16,705,826.56. The trade was a 0.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phillips 66

Several large investors have recently modified their holdings of PSX. Key Client Fiduciary Advisors LLC raised its stake in Phillips 66 by 3.5% during the second quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company’s stock valued at $275,000 after buying an additional 55 shares in the last quarter. Threadgill Financial LLC grew its position in shares of Phillips 66 by 3.5% in the 2nd quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company’s stock worth $286,000 after acquiring an additional 58 shares in the last quarter. Somerset Trust Co increased its holdings in shares of Phillips 66 by 0.3% in the 2nd quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company’s stock valued at $3,601,000 after acquiring an additional 63 shares during the last quarter. Clifford Group LLC increased its holdings in shares of Phillips 66 by 2.0% in the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after acquiring an additional 64 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Phillips 66 by 0.8% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,255 shares of the oil and gas company’s stock valued at $1,504,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.