Phillips 66 (PSX) to Issue Quarterly Dividend of $1.27 on June 1st

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Friday, April 17th. Shareholders of record on Monday, May 18th will be paid a dividend of 1.27 per share by the oil and gas company on Monday, June 1st. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, May 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% meaning its dividend is sufficiently covered by earnings. Analysts expect Phillips 66 to earn $18.08 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 28.1%.

Phillips 66 Trading Up 2.9%

Shares of PSX opened at $176.42 on Friday. The firm has a market capitalization of $70.73 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 0.26 and a beta of 0.70. The stock’s 50-day moving average price is $170.79 and its 200 day moving average price is $151.81. 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 12-month low of $109.75 and a 12-month high of $190.61.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The business had revenue of $32.54 billion during 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%. Phillips 66’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.90) earnings per share. As a group, research analysts predict that Phillips 66 will post 17.39 earnings per share for the current year.

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.