Navellier & Associates Inc. Sells 7,126 Shares of Phillips 66 $PSX

Key Points

• Navellier & Associates trimmed its stake in Phillips 66 by 14.6%, selling 7,126 shares and leaving it with 41,762 shares valued at about $5.39 million per the latest SEC filing.
• Notable insider activity: Director Kevin Omar Meyers bought 175 shares at $173.20, while CFO Kevin J. Mitchell sold 15,629 shares at $190.07 (~$2.97 million); insiders have sold 91,529 shares (~$15.74 million) in the past three months and now own 0.40% of the company.
• Company results and payout: Phillips 66 reported Q earnings of $0.49 EPS (beating a -$0.54 consensus) on $32.54B revenue (below $35.86B est.), and declared a quarterly dividend of $1.27 ($5.08 annualized, 2.8% yield), ex-dividend May 18 and payable June 1.

Navellier & Associates Inc. trimmed its holdings in Phillips 66 (NYSE:PSX - Free Report) by 14.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,762 shares of the oil and gas company's stock after selling 7,126 shares during the quarter. Navellier & Associates Inc.'s holdings in Phillips 66 were worth $5,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Board of the Pension Protection Fund bought a new stake in Phillips 66 during the 4th quarter valued at about $26,000. Accordant Advisory Group Inc boosted its holdings in shares of Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock worth $26,000 after buying an additional 180 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in Phillips 66 during the fourth quarter valued at approximately $27,000. Stephens Consulting LLC lifted its holdings in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock valued at $29,000 after purchasing an additional 90 shares in the last quarter. Finally, Dorato Capital Management bought a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $35,000. 76.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kevin Omar Meyers bought 175 shares of the firm's stock in a transaction on Tuesday, March 17th. The shares were bought at an average cost of $173.20 per share, for a total transaction of $30,310.00. Following the transaction, the director owned 16,624 shares of the company's stock, valued at approximately $2,879,276.80. This trade represents a 1.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin J. Mitchell sold 15,629 shares of the business's stock in a transaction on Monday, March 30th. The stock was sold at an average price of $190.07, for a total transaction of $2,970,604.03. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at $18,508,256.32. The trade was a 13.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 91,529 shares of company stock worth $15,740,519. Corporate insiders own 0.40% of the company's stock.

Phillips 66 Trading Up 1.0%

Shares of PSX stock opened at $180.26 on Wednesday. The stock has a market cap of $72.27 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 0.28 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Phillips 66 has a twelve month low of $104.83 and a twelve month high of $190.61. The company's 50-day moving average price is $168.18 and its 200-day moving average price is $149.62.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of ($0.54) by $1.03. The company had revenue of $32.54 billion for the quarter, compared to analysts' expectations of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm's revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.90) earnings per share. As a group, equities analysts predict that Phillips 66 will post 16.76 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, May 18th. Phillips 66's dividend payout ratio is currently 50.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PSX shares. Wall Street Zen upgraded shares of Phillips 66 from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Zacks Research raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Argus increased their price target on shares of Phillips 66 from $152.00 to $185.00 and gave the company a "buy" rating in a research report on Tuesday, February 10th. JPMorgan Chase & Co. upped their price objective on shares of Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Finally, Tudor Pickering upgraded shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $184.50.

Phillips 66 Company Profile

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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