Navellier & Associates Inc. Trims Stock Holdings in Phillips 66 (NYSE:PSX)

Navellier & Associates Inc. decreased its position in Phillips 66 (NYSE:PSX) by 44.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,759 shares of the oil and gas company’s stock after selling 37,508 shares during the quarter. Phillips 66 makes up 0.9% of Navellier & Associates Inc.’s portfolio, making the stock its 23rd biggest position. Navellier & Associates Inc.’s holdings in Phillips 66 were worth $6,278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in Phillips 66 in the first quarter worth about $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 during the second quarter valued at approximately $26,000. nVerses Capital LLC purchased a new position in Phillips 66 in the 3rd quarter worth approximately $26,000. Values First Advisors Inc. bought a new position in Phillips 66 in the 3rd quarter valued at approximately $30,000. Finally, Bank & Trust Co purchased a new stake in Phillips 66 during the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.0 %

Shares of NYSE:PSX opened at $131.50 on Thursday. The company has a 50-day moving average price of $130.03 and a 200 day moving average price of $135.52. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12 month low of $114.94 and a 12 month high of $174.08. The company has a market cap of $54.31 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 4.29 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.63 EPS. As a group, equities research analysts predict that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.50%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PSX shares. Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research note on Thursday, October 17th. Morgan Stanley cut their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Barclays reduced their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Finally, Scotiabank reduced their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.69.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.