) hit a 52-week high of $78.25 during Thursday's trading session.
However, the stock closed the session at $78.13, which reflects a
solid return of 39.3% over the past six months. The average
trading volume for the last three months aggregated 5,377,100
The strength of Phillips 66's business model reflects its
commitment to return value to shareholders along with its strong
cash generation capabilities.
Phillips 66 has a good capital deployment policy through share
repurchase and payment of dividends. During the third quarter of
2013, the company returned more than $863 million to shareholders
through $189 million in dividend payments and $674 million in
share repurchases. The company also repurchased 11.6 million
shares of common stock as part of its previously announced $2.0
billion share repurchase program.
We believe that the increase in dividend and share repurchase
programs will boost investor confidence in the stock, and drive
Phillips 66, an independent publicly traded company, was formed
after the spin-off of the refining/sales business of
) in May 2012. The move resulted in the creation of the largest
refining company in the U.S. and the largest exploration and
production player based on oil and gas reserves.
Phillips 66 is headquartered in Houston, Texas. In addition to
the refining, marketing and transportation businesses, the
company has emerged as an integrated downstream company with most
of the Midstream and Chemicals segments, as well as power
generation and certain technology operations included in the
Emerging Businesses segment. Phillips 66 currently carries a
Zacks Rank #3 (Hold).
Meanwhile, one can consider better-ranked players like
Athlon Energy Inc.
Harvest Natural Resources Inc.
). Both these stocks currently sport a Zacks Rank #1 (Strong
ATHLON ENERGY (ATHL): Free Stock Analysis
CONOCOPHILLIPS (COP): Free Stock Analysis
HARVEST NATURAL (HNR): Free Stock Analysis
PHILLIPS 66 (PSX): Free Stock Analysis Report
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