Phillips 66 (PSX) To Go Ex-Dividend on February 24th

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Wednesday, February 12th, RTT News reports. Stockholders 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 dividend yield of 3.57%. The ex-dividend date of this dividend is Monday, February 24th.

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 38.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 2.1 %

PSX stock opened at $128.78 on Friday. The business’s 50-day moving average price is $119.17 and its 200-day moving average price is $127.11. The stock has a market cap of $53.18 billion, a P/E ratio of 26.07, a PEG ratio of 4.84 and a beta of 1.37. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (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 prior year, the company posted $3.09 EPS. On average, equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on PSX. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. StockNews.com raised Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday. UBS Group reduced their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Wells Fargo & Company lifted their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

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.