We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Phillips 66 Rewards Shareholders With Stock Buyback Program
Read MoreHide Full Article
Phillips 66 (PSX - Free Report) announced an authorization by the board of directors for a new share repurchase program. With this move, the company has been permitted to repurchase up to $3 billion of common stock.
Following the latest approval, its share repurchase program authorized since 2012 aggregates $15 billion. Thus, Phillips 66 has been strongly committed in returning cash to its shareholders through both dividend payments and stock repurchases. The company stated that it has returned more than $24 billion of capital to its shareholders since 2012.
Phillips 66 has also revealed long-term capital allocation program. The company is planning to allocate roughly 60% of its operating cash flow for business investments. The remaining 40% is likely to be returned to its shareholders via share buybacks and dividend payments. This reflects the company’s overall strong operations and competitive strength in all the business segments that include midstream, chemicals and refining.
Investors should note that the company will be repurchasing shares over time, at its discretion, in the open market. Phillips 66 also stated that its board has approved a quarterly dividend of 90 cents per share. The dividend is expected to be paid on Dec 2, to its shareholders of record as of Nov 18.
Currently, Phillips 66 — which is headquartered in Houston, TX — carries a Zacks Rank #3 (Hold). Meanwhile, some better-ranked stocks in the energy space are Matrix Service Company (MTRX - Free Report) , Shell Midstream Partners LP and Dril-Quip Inc . While Matrix Service and Shell Midstream sport a Zacks Rank #1 (Strong Buy), Dril-Quip carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Matrix Service has managed to beat the Zacks Consensus Estimate for earnings in three of the last four quarters.
Shell Midstream posted an average positive earnings surprise of 3.8% in the last four quarters.
Dril-Quip beat the Zacks Consensus Estimate in three of the trailing four quarters, with the average positive earnings surprise being 49%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
Image: Bigstock
Phillips 66 Rewards Shareholders With Stock Buyback Program
Phillips 66 (PSX - Free Report) announced an authorization by the board of directors for a new share repurchase program. With this move, the company has been permitted to repurchase up to $3 billion of common stock.
Following the latest approval, its share repurchase program authorized since 2012 aggregates $15 billion. Thus, Phillips 66 has been strongly committed in returning cash to its shareholders through both dividend payments and stock repurchases. The company stated that it has returned more than $24 billion of capital to its shareholders since 2012.
Phillips 66 has also revealed long-term capital allocation program. The company is planning to allocate roughly 60% of its operating cash flow for business investments. The remaining 40% is likely to be returned to its shareholders via share buybacks and dividend payments. This reflects the company’s overall strong operations and competitive strength in all the business segments that include midstream, chemicals and refining.
Investors should note that the company will be repurchasing shares over time, at its discretion, in the open market. Phillips 66 also stated that its board has approved a quarterly dividend of 90 cents per share. The dividend is expected to be paid on Dec 2, to its shareholders of record as of Nov 18.
Phillips 66 Price
Phillips 66 price | Phillips 66 Quote
Currently, Phillips 66 — which is headquartered in Houston, TX — carries a Zacks Rank #3 (Hold). Meanwhile, some better-ranked stocks in the energy space are Matrix Service Company (MTRX - Free Report) , Shell Midstream Partners LP and Dril-Quip Inc . While Matrix Service and Shell Midstream sport a Zacks Rank #1 (Strong Buy), Dril-Quip carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Matrix Service has managed to beat the Zacks Consensus Estimate for earnings in three of the last four quarters.
Shell Midstream posted an average positive earnings surprise of 3.8% in the last four quarters.
Dril-Quip beat the Zacks Consensus Estimate in three of the trailing four quarters, with the average positive earnings surprise being 49%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>