More on Phillips 66's (PSX) Q4 results: Strong realized refining and chemicals margins improved...


More on Phillips 66's (PSXQ4 results: Strong realized refining and chemicals margins improved earnings, benefiting from improved feedstock advantage with stronger Gulf Coast and Canadian crude differentials, as well as higher gasoline and distillate market spreads. Processed 135K bbl/day of shale crude, up 97% Y/Y. Hikes dividend by 25%; grows stock repurchase by $1B. Shares +2.6% premarket.

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Comments (9)
  • Michael Fitzsimmons
    , contributor
    Comments (11019) | Send Message
     
    Good action!
    PSX: http://seekingalpha.co...
    30 Jan 2013, 09:00 AM Reply Like
  • wigit5
    , contributor
    Comments (4365) | Send Message
     
    Hmm small increase in the dividend though.. thought it would be higher.
    30 Jan 2013, 09:04 AM Reply Like
  • runyontr
    , contributor
    Comments (32) | Send Message
     
    Is this increase in addition to the already announced 25% increase to $1.25/year?

     

    For reference: http://seekingalpha.co...
    30 Jan 2013, 09:07 AM Reply Like
  • wigit5
    , contributor
    Comments (4365) | Send Message
     
    good point, i can't find a new increase reported anywhere perhaps the 25% referenced here is the same as what was announced in December (or november?)
    30 Jan 2013, 09:08 AM Reply Like
  • 8747S1115R
    , contributor
    Comments (265) | Send Message
     
    same here, im guessing the div. is old news considering they havent even paid the .3125 yet, that must be the increase that waws announced in december.
    30 Jan 2013, 09:22 AM Reply Like
  • Dividend Garden
    , contributor
    Comments (484) | Send Message
     
    Yes, it's old news. They were saying that during this quarter, they raised it. They could've worded it better.
    30 Jan 2013, 11:30 AM Reply Like
  • wigit5
    , contributor
    Comments (4365) | Send Message
     
    So them increasing the stock buyback does that mean they feel their stock is cheap?

     

    I'm struggling with whether it is fairly valued now of if it still has room to run.... could we see $100 in a stock like PSX??
    30 Jan 2013, 09:27 AM Reply Like
  • Michael Fitzsimmons
    , contributor
    Comments (11019) | Send Message
     
    Yeah, the dividend and stock buyback included in the Q4 report were related to the previous announcement in December (which was technically in Q4, so I guess that is why they added it to the Q4 report).
    30 Jan 2013, 09:43 AM Reply Like
  • jnpfl
    , contributor
    Comments (195) | Send Message
     
    This company is doing very well. They have only existed as a separate company for less than one year and they have increased the dividend already. ConocoPhillips stuck them with a mountain of debt and prudence dictates they allocate cash flow across the various possibilities including dividends, share repurchase, debt retirement and capex. For a newly created company it seems management is touching all the bases. I couldn't be happier with management. We shareholders are getting everything we could reasonably expect. This should easily be a 12x p/e but it isn't a darling of the fast money crowd so it will probably move gradually toward $80. This is one to keep.
    30 Jan 2013, 01:43 PM Reply Like
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