Phillips 66 Sees Unusually High Options Volume (NYSE:PSX)

Phillips 66 (NYSE:PSX) was the target of unusually large options trading activity on Tuesday. Stock investors bought 11,581 put options on the company. This represents an increase of 1,817% compared to the average volume of 604 put options.

In other news, VP Chukwuemeka A. Oyolu sold 464 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $119.53, for a total transaction of $55,461.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert A. Herman sold 47,433 shares of Phillips 66 stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $103.17, for a total transaction of $4,893,662.61. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisors Preferred LLC bought a new position in Phillips 66 in the 2nd quarter valued at approximately $25,000. Atwater Malick LLC acquired a new position in shares of Phillips 66 during the third quarter worth $27,000. TRUE Private Wealth Advisors acquired a new position in shares of Phillips 66 during the second quarter worth $26,000. Rational Advisors LLC increased its holdings in shares of Phillips 66 by 41.1% during the third quarter. Rational Advisors LLC now owns 374 shares of the oil and gas company’s stock worth $38,000 after buying an additional 109 shares in the last quarter. Finally, Coastal Capital Group Inc. bought a new position in shares of Phillips 66 in the 2nd quarter valued at $37,000. 68.42% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on PSX. Raymond James raised their target price on shares of Phillips 66 from $117.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Morgan Stanley lifted their price target on shares of Phillips 66 from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Cowen upped their price objective on shares of Phillips 66 from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Macquarie started coverage on shares of Phillips 66 in a research note on Thursday, September 5th. They set an “outperform” rating on the stock. Finally, Evercore ISI began coverage on shares of Phillips 66 in a report on Wednesday, October 2nd. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $119.80.

Shares of PSX opened at $112.75 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.29. Phillips 66 has a 52-week low of $78.44 and a 52-week high of $119.92. The firm has a market cap of $50.98 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 2.01 and a beta of 1.11. The business’s fifty day moving average is $115.03 and its 200-day moving average is $100.81.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, October 25th. The oil and gas company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.51. The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $28.31 billion. Phillips 66 had a return on equity of 19.31% and a net margin of 4.17%. During the same period in the prior year, the company earned $3.10 EPS. As a group, research analysts forecast that Phillips 66 will post 8.79 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Friday, November 15th. Phillips 66’s payout ratio is 30.74%.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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