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

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Thursday, July 9th. Stockholders 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 dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 18th.

Phillips 66 has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Phillips 66 has a dividend payout ratio of 49.2% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of NYSE:PSX 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 has a 50-day simple moving average of $176.08 and a 200 day simple moving average of $162.78. The company has a market cap of $76.11 billion, a PE ratio of 18.70, a P/E/G ratio of 0.25 and a beta of 0.69.

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

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 29,400 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $16,553,920. This trade represents a 23.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin Omar Meyers bought 175 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were acquired at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Several institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Phillips 66 during the 4th quarter valued at about $640,206,000. M&T Bank Corp boosted its holdings in shares of Phillips 66 by 462.9% in the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after acquiring an additional 2,243,268 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Phillips 66 by 424.7% during the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock valued at $257,512,000 after acquiring an additional 1,532,389 shares during the period. Amundi increased its stake in shares of Phillips 66 by 62.0% during the first quarter. Amundi now owns 3,667,451 shares of the oil and gas company’s stock valued at $668,137,000 after acquiring an additional 1,403,493 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new stake in Phillips 66 during the second quarter worth approximately $107,967,000. Institutional investors and hedge funds 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.