Louis Navellier’s Top 15 Long-Term Stock Picks

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7. Phillips 66 (NYSE:PSX)

Number of Hedge Fund Holders: 39 

Navellier & Associates’ Stake: $6.3 million

Phillips 66 (NYSE:PSX) is an energy manufacturing and logistics firm. The following factors make Phillips 66 a prime avenue for investment. Firstly, its strong financial performance in the third quarter of 2024 secures its position in investment portfolios. As per the reports, the total earnings were $346 million or $0.82 per share, adjusted earnings of $859 million or $2.04 per share, and the firm returned $1.3 billion to shareholders through dividends and share repurchases. In addition, it also achieved a business transformation $1.4 billion run-rate savings target, including a $1 per barrel refining cost reduction. The company is making efforts to transition towards renewable energy sources by converting its Rodeo Refinery in California into a renewable fuel facility, producing renewable diesel, aviation fuel, and other products; this will reduce carbon emissions and produce lower-carbon intensity fuel. Moreover, the company’s alliance with NextEra Energy to power the Rodeo Renewable Energy Complex with solar energy. This is expected to generate approximately 60,000 megawatt-hours of electricity annually in 2025.

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