Analysts expect the Houston-based company to report quarterly earnings at $1.71 per share, down from $2.31 per share in the year-ago period. Phillips 66 projects to report quarterly revenue at $32.32 billion. Compare that to $38.91 billion the previous year, according to data from Benzinga Pro.
On Tuesday, Piper Sandler analyst Ryan Todd maintained a Neutral rating for Phillips 66 and lowered the price target from $148 to $147.
With the recent buzz around Phillips 66, some investors may be eyeing potential gains from the company's dividends. Currently, Phillips 66 offers an annual dividend yield of 3.75% ($4.80 a year). That’s a quarterly dividend amount of $1.20 per share.
To earn $500 monthly from Phillips 66, start by setting a yearly target of $6,000 ($500 x 12 months).
Next, we take this amount and divide it by Phillips 66's $4.80 dividend: $6,000 / $4.80 = 1,250 shares.
So, an investor would need to own approximately $159,813 worth of Phillips 66, or 1,250 shares to generate a monthly dividend income of $500.
Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $4.80 = 250 shares, or $31,963 to generate a monthly dividend income of $100.
Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.
For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).
Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).
Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.
PSX Price Action: Shares of Phillips 66 rose by 1.3% to close at $127.85 on Wednesday.
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