Phillips 66 (PSX) to Issue Quarterly Dividend of $1.20 on December 1st

Phillips 66 (NYSE:PSX) announced a quarterly dividend on Wednesday, October 8th, RTT News reports. Investors of record on Monday, November 17th will be paid a dividend of 1.20 per share by the oil and gas company on Monday, December 1st. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, November 17th.

Phillips 66 has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 14 years. Phillips 66 has a payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of Phillips 66 stock opened at $142.27 on Friday. The company has a market capitalization of $57.33 billion, a PE ratio of 38.87, a P/E/G ratio of 1.81 and a beta of 1.08. The company has a 50-day simple moving average of $133.96 and a two-hundred day simple moving average of $125.90. Phillips 66 has a one year low of $91.01 and a one year high of $143.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The firm had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. During the same quarter in the previous year, the firm earned $2.04 EPS. Research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the sale, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. This represents a 25.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the sale, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 38,786 shares of company stock worth $5,348,075 in the last quarter. Company insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

A number of institutional investors and hedge funds have recently made changes to their positions in PSX. Vanguard Group Inc. boosted its position in Phillips 66 by 11.6% during the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock worth $7,035,574,000 after acquiring an additional 5,356,558 shares during the last quarter. Elliott Investment Management L.P. lifted its stake in Phillips 66 by 22.4% in the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after purchasing an additional 3,526,000 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Phillips 66 by 17.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after purchasing an additional 1,532,967 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Phillips 66 by 6.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock worth $1,120,794,000 after purchasing an additional 537,245 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock valued at $828,442,000 after purchasing an additional 682,459 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

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.