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IBD’s Earnings Investor highlights high dividend shares. Phillips 66 (PSX) is in focus in the present day, with sizzling progress and a formidable dividend.
Headquartered in Houston, Phillips 66 is a diversified vitality firm working via 4 segments: midstream, refineries, chemical compounds and advertising.
The Oil Refiners/Advertising group is one in all IBD’s top-performing subsectors in 2022. It at present ranks ninth out of 197 trade teams. Phillips 66 ranks second within the group, with a powerful 98 Composite Ranking.
For income-seeking traders, Phillips 66 pays out a formidable 4.29% dividend yield, effectively above the S&P 500’s 1.7% common.
The vitality large has made this quarterly payout a high precedence, growing it yearly since 2012.
Phillips 66 has been rising at an unimaginable tempo, along with its spectacular yield. Progress comes as vitality costs have soared amid tight international provide.
Robust outcomes have additionally improved the steadiness sheet. The corporate decreased debt by $1.5 billion in Q2 and resumed share repurchases that have been halted in March of 2020.
Income are forecast to almost triple to $16.10 in 2022, after 2021 earnings of $5.70 per share. As well as, analysts forecast a revenue of $4.68 per share when Phillips 66 studies third-quarter earnings on Nov. 1.
Nevertheless, the worldwide macro surroundings may influence earnings in coming quarters. They might be pressured to decide on between the advantages of tight vitality markets and a recession that slows demand.
Luckily, world markets have already priced-in some slowing of vitality demand.
This dividend inventory has carried out effectively in current weeks, rallying above its 200-day shifting common.
It is now consolidating in a possible double-bottom, with a 94.85 purchase level.
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