Phillips 66 (PSX) Declares $1.05 Dividend

Phillips 66 said on February 8, 2023 that its board of directors declared a regular quarterly dividend of $1.05 per share ($4.20 annualized). Shareholders of record as of February 17, 2023 will receive the payment on March 1, 2023. Previously, the company paid $0.97 per share.

At the current share price of $102.11 / share, the stock's dividend yield is 4.11%. Looking back five years and taking a sample every week, the average dividend yield has been 4.21%, the lowest has been 2.43%, and the highest has been 8.55%. The standard deviation of yields is 1.10 (n=237).

The current dividend yield is 0.08 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.16. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.08%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 24.33% Upside

As of February 10, 2023, the average one-year price target for Phillips 66 is $126.95. The forecasts range from a low of $103.02 to a high of $148.05. The average price target represents an increase of 24.33% from its latest reported closing price of $102.11.

The projected annual revenue for Phillips 66 is $145,981MM, a decrease of 14.12%. The projected annual EPS is $14.16, a decrease of 39.44%.

What is the Fund Sentiment?

There are 2385 funds or institutions reporting positions in Phillips 66. This is an increase of 86 owner(s) or 3.74% in the last quarter. Average portfolio weight of all funds dedicated to PSX is 0.36%, an increase of 7.01%. Total shares owned by institutions decreased in the last three months by 0.99% to 370,779K shares. The put/call ratio of PSX is 0.85, indicating a bullish outlook.

What are large shareholders doing?

Wells Fargo holds 16,704K shares representing 3.58% ownership of the company. In it's prior filing, the firm reported owning 16,945K shares, representing a decrease of 1.44%. The firm increased its portfolio allocation in PSX by 2.22% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 14,348K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 14,171K shares, representing an increase of 1.23%. The firm increased its portfolio allocation in PSX by 3.91% over the last quarter.

XLE - The Energy Select Sector SPDR Fund holds 14,054K shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 13,444K shares, representing an increase of 4.34%. The firm increased its portfolio allocation in PSX by 3.66% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 10,905K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 10,648K shares, representing an increase of 2.36%. The firm increased its portfolio allocation in PSX by 4.27% over the last quarter.

Geode Capital Management holds 9,857K shares representing 2.12% ownership of the company. In it's prior filing, the firm reported owning 9,549K shares, representing an increase of 3.13%. The firm increased its portfolio allocation in PSX by 5.30% over the last quarter.

Phillips 66 Background Information
(This description is provided by the company.)

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company's master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,300 employees committed to safety and operating excellence. Phillips 66 had $55 billion of assets as of Dec. 31, 2020.

This story originally appeared on Fintel.