Phillips 66 buys stake in new Iowa soybean plant

  • Phillips 66 (NYSE:PSX) agrees to acquire a minority stake in Iowa soybean processing plant Royal Dutch Shell Rock Soy Processing, as it seeks to secure feedstock for its renewable fuels projects; financial terms are not disclosed.
  • Phillips 66 says the plant, which is pending state and local approvals, will produce ~4K bbl/day of soybean oil.
  • The company has an agreement to purchase 100% of the plant's soybean oil production that will be used to make renewable fuels.
  • In addition to the soybean oil, Royal Dutch Shell Rock Soy Processing will produce more than 900K tons/year of soybean meal and hulls for livestock feed.

    Over the current book year the company from Houston could achieve a revenue around 86.16 billion USD (consensus estimates). This is quite more than 2020's revenue of 64.13 billion USD.

    Historical revenues and results Phillips 66 plus estimates 2020

    financiële analyse

    The analysts expect for 2021 a net profit of 1.01 billion USD. For this year the consensus of Phillips 66 's result per share is a profit of 2.04 USD. The price/earnings-ratio therefore equals 36.74.

    Huge dividend Phillips 66

    Per share the analysts expect a dividend of 3.62 USD per share. Phillips 66 's dividend yield thus equals 4.83 percent. The average dividend yield of the oil & gas producers equals a relatively high 3.08 percent.

    Based on the current number of outstanding shares Phillips 66 's market capitalization is 33.05 billion USD. The Phillips 66 stock was the past 12 months quite unstable. Since last April the stock is even 32 percent higher. This year the stock price moved between 43 and 91 dollar.

    Historical stock prices Phillips 66 period 2007-2021

    fundamental data phillips66

    At 15.55 the stock trades 0.96 percent higher at 74.95 USD.

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