Phillips 66 (PSX) To Go Ex-Dividend on November 17th

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Friday, October 16th. Investors of record on Tuesday, November 17th will be paid a dividend of $1.33 per share by the oil and gas company on Tuesday, December 1st. This represents a $5.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, November 17th. This is a 4.7% increase from Phillips 66’s previous quarterly dividend of $1.27.

Phillips 66 has raised its dividend 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 dividend payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Phillips 66 to earn $33.94 per share next year, which means the company should continue to be able to cover its $5.32 annual dividend with an expected future payout ratio of 15.7%.

Phillips 66 Stock Performance

Phillips 66 stock traded up $1.69 during trading hours on Friday, hitting $264.60. The stock had a trading volume of 3,006,235 shares, compared to its average volume of 3,092,010. Phillips 66 has a fifty-two week low of $127.16 and a fifty-two week high of $299.39. The company has a market cap of $103.21 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 0.14 and a beta of 0.69. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average of $268.77 and a two-hundred day moving average of $204.44.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, October 28th. The oil and gas company reported $14.08 earnings per share for the quarter, beating the consensus estimate of $11.73 by $2.35. The business had revenue of $50.54 billion for the quarter, compared to analyst estimates of $44.91 billion. Phillips 66 had a net margin of 7.27% and a return on equity of 33.12%. During the same period in the previous year, the business earned $2.52 EPS. On average, equities research analysts anticipate that Phillips 66 will post 33.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Phillips 66 news, EVP Brian Mandell sold 23,400 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $265.06, for a total transaction of $6,202,404.00. Following the transaction, the executive vice president owned 61,595 shares of the company’s stock, valued at $16,326,370.70. The trade was a 27.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Phillips 66

Several large investors have recently modified their holdings of the stock. Cvfg LLC bought a new position in Phillips 66 in the 3rd quarter valued at about $5,517,000. Bouchey Financial Group Ltd. acquired a new position in Phillips 66 in the third quarter valued at about $219,000. Resona Asset Management Co. Ltd. lifted its holdings in shares of Phillips 66 by 3.9% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 121,391 shares of the oil and gas company’s stock worth $30,913,000 after acquiring an additional 4,547 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Phillips 66 by 395.1% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 901 shares of the oil and gas company’s stock valued at $230,000 after purchasing an additional 719 shares in the last quarter. Finally, TIAA CREF Individual & Institutional Services LLC acquired a new stake in Phillips 66 in the third quarter valued at about $3,620,000. 76.93% of the stock is owned by institutional investors.

About Phillips 66

Phillips 66 (NYSE: PSX) is an integrated energy company with businesses spanning refining, midstream operations, chemicals, and marketing. It processes crude oil and other feedstocks into transportation fuels and other petroleum products, including gasoline, diesel, and jet fuel. The company’s midstream operations include the transportation, processing, storage, and marketing of crude oil, natural gas, natural gas liquids, and refined products. Phillips 66 also markets fuels and related products through retail and wholesale channels, including under the Phillips 66, 76, and JET brands.