Analyst Price Forecast Suggests 7.02% Upside
As of August 31, 2023, the average one-year price target for Phillips 66 is 129.52. The forecasts range from a low of 116.15 to a high of $148.05. The average price target represents an increase of 7.02% from its latest reported closing price of 121.03.
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The projected annual revenue for Phillips 66 is 145,981MM, a decrease of 5.65%. The projected annual non-GAAP EPS is 14.16.
Phillips 66 Declares $1.05 Dividend
On July 12, 2023, the company declared a regular quarterly dividend of $1.05 per share ($4.20 annualized). Shareholders of record as of August 18, 2023, received the payment on September 1, 2023. Previously, the company paid $1.05 per share.
At the current share price of $121.03 / share, the stock’s dividend yield is 3.47%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.36%, the lowest has been 2.71%, and the highest has been 8.55%. The standard deviation of yields is 0.98 (n=236).
The current dividend yield is 0.91 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.17. 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 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 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 0.17%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 2414 funds or institutions reporting positions in Phillips 66. This is a decrease of 73 owner(s) or 2.94% in the last quarter. Average portfolio weight of all funds dedicated to PSX is 0.31%, a decrease of 7.32%. Total shares owned by institutions decreased in the last three months by 9.85% to 349,169K shares.
The put/call ratio of PSX is 0.83, indicating a bullish outlook.
What are Other Shareholders Doing?
Wells Fargo holds 17,121K shares representing 3.84% ownership of the company. In its prior filing, the firm reported owning 17,024K shares, representing an increase of 0.57%. The firm increased its portfolio allocation in PSX by 170.49% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 14,364K shares representing 3.23% ownership of the company. In its prior filing, the firm reported owning 14,361K shares, representing an increase of 0.02%. The firm decreased its portfolio allocation in PSX by 13.18% over the last quarter.
XLE – The Energy Select Sector SPDR Fund holds 12,113K shares representing 2.72% ownership of the company. In its prior filing, the firm reported owning 13,392K shares, representing a decrease of 10.56%. The firm decreased its portfolio allocation in PSX by 3.45% over the last quarter.
Wellington Management Group Llp holds 10,932K shares representing 2.45% ownership of the company. In its prior filing, the firm reported owning 8,624K shares, representing an increase of 21.11%. The firm increased its portfolio allocation in PSX by 13.80% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 10,925K shares representing 2.45% ownership of the company. In its prior filing, the firm reported owning 10,874K shares, representing an increase of 0.47%. The firm decreased its portfolio allocation in PSX by 14.39% 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.
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