Navellier & Associates Inc. Sells 37,508 Shares of Phillips 66 (NYSE:PSX)

Navellier & Associates Inc. lessened its stake in shares of Phillips 66 (NYSE:PSX) by 44.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,759 shares of the oil and gas company’s stock after selling 37,508 shares during the period. Phillips 66 comprises approximately 0.9% of Navellier & Associates Inc.’s investment portfolio, making the stock its 23rd biggest holding. Navellier & Associates Inc.’s holdings in Phillips 66 were worth $6,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PSX. Bank of New York Mellon Corp increased its stake in shares of Phillips 66 by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after buying an additional 402,925 shares during the period. Boston Partners raised its holdings in shares of Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after purchasing an additional 1,595,722 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Phillips 66 by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after purchasing an additional 18,238 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Phillips 66 by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after purchasing an additional 111,261 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Phillips 66 by 96.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after buying an additional 1,408,954 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.0 %

Shares of Phillips 66 stock opened at $131.50 on Thursday. Phillips 66 has a 1 year low of $114.94 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a market cap of $54.31 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 4.29 and a beta of 1.33. The firm has a fifty day moving average price of $130.03 and a 200 day moving average price of $135.52.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.63 EPS. Equities research analysts predict that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.50%. Phillips 66’s payout ratio is 59.05%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PSX shares. Morgan Stanley cut their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Barclays decreased their target price 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. Bank of America initiated coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. UBS Group decreased their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Raymond James boosted their target price on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price 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.