Phillips 66 Declares Quarterly Dividend of $0.63 (PSX)
Phillips 66 (NYSE:PSX) announced a quarterly dividend on Friday, October 7th. Investors of record on Thursday, November 17th will be given a dividend of 0.63 per share on Thursday, December 1st. This represents a $2.52 dividend on an annualized basis and a yield of 3.13%.
Shares of Phillips 66 (NYSE:PSX) opened at 80.39 on Monday. The stock has a market cap of $42.03 billion, a P/E ratio of 13.92 and a beta of 1.37. The company’s 50-day moving average is $79.20 and its 200-day moving average is $80.14. Phillips 66 has a 1-year low of $71.74 and a 1-year high of $94.12.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. Phillips 66 had a net margin of 3.51% and a return on equity of 13.44%. During the same quarter in the previous year, the business posted $1.83 EPS. Equities analysts expect that Phillips 66 will post $3.41 EPS for the current fiscal year.
PSX has been the topic of a number of analyst reports. Vetr cut shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $89.00 price objective on the stock. in a research note on Tuesday, July 5th. TheStreet raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Monday, August 29th. Morgan Stanley cut shares of Phillips 66 from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $105.00 to $90.00 in a research note on Friday, June 17th. Finally, Barclays PLC cut shares of Phillips 66 from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $93.00 to $86.00 in a research note on Wednesday, July 13th. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $86.23.
In related news, major shareholder Berkshire Hathaway Inc acquired 17,910 shares of Phillips 66 stock in a transaction that occurred on Thursday, September 15th. The shares were purchased at an average cost of $77.52 per share, for a total transaction of $1,388,383.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.05% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. SL Advisors LLC bought a new stake in shares of Phillips 66 during the second quarter valued at about $1,745,000. Ameritas Investment Partners Inc. raised its stake in shares of Phillips 66 by 2.8% in the second quarter. Ameritas Investment Partners Inc. now owns 9,851 shares of the company’s stock valued at $781,000 after buying an additional 264 shares during the period. Bank of Nova Scotia raised its stake in shares of Phillips 66 by 5.6% in the second quarter. Bank of Nova Scotia now owns 9,384 shares of the company’s stock valued at $745,000 after buying an additional 500 shares during the period. Advantus Capital Management Inc raised its stake in shares of Phillips 66 by 0.3% in the second quarter. Advantus Capital Management Inc now owns 45,442 shares of the company’s stock valued at $3,605,000 after buying an additional 157 shares during the period. Finally, Freestone Capital Holdings LLC raised its stake in shares of Phillips 66 by 5.4% in the second quarter. Freestone Capital Holdings LLC now owns 6,628 shares of the company’s stock valued at $526,000 after buying an additional 339 shares during the period. Hedge funds and other institutional investors own 69.98% of the company’s stock.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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