Phillips 66 (NYSE:PSX) Raises Dividend to $1.27 Per Share

Phillips 66 (NYSE:PSX) announced a quarterly dividend on Wednesday, February 11th. Shareholders of record on Monday, February 23rd will be paid a dividend of 1.27 per share by the oil and gas company on Wednesday, March 4th. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, February 23rd. This is a 5.8% increase from Phillips 66’s previous quarterly dividend of $1.20.

Phillips 66 has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 14 years. Phillips 66 has a payout ratio of 46.5% meaning 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 $4.80 annual dividend with an expected future payout ratio of 40.5%.

Phillips 66 Trading Up 2.6%

Shares of PSX stock opened at $161.32 on Thursday. The company has a market cap of $65.00 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 0.56 and a beta of 0.90. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $161.53. The stock’s 50 day simple moving average is $139.65 and its two-hundred day simple moving average is $134.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.32. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.The firm had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. During the same quarter in the previous year, the company posted ($0.15) EPS. Research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Insider Transactions at Phillips 66

In related news, EVP Brian Mandell sold 26,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the sale, the executive vice president owned 56,838 shares in the company, valued at approximately $7,825,455.84. The trade was a 31.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares in the company, valued at $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,488 shares of company stock worth $8,474,466 over the last 90 days. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

A number of hedge funds and other institutional investors have recently made changes to their positions in PSX. Evolution Wealth Management Inc. purchased a new stake in shares of Phillips 66 during the second quarter valued at about $25,000. Board of the Pension Protection Fund bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $26,000. Accordant Advisory Group Inc lifted its position in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 180 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $27,000. Finally, Stephens Consulting LLC boosted its stake in Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 90 shares in the last quarter. Institutional investors 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.