Investors Buy High Volume of Call Options on Phillips 66 (PSX)

Phillips 66 (NYSE:PSX) saw some unusual options trading activity on Thursday. Investors purchased 15,346 call options on the stock. This represents an increase of approximately 2,008% compared to the typical daily volume of 728 call options.

Hedge funds and other institutional investors have recently modified their holdings of the company. Rowland & Co. Investment Counsel ADV bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $102,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $119,000. First Dallas Securities Inc. bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $143,000. Truewealth LLC bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $151,000. Finally, Wealthcare Advisory Partners LLC bought a new position in shares of Phillips 66 in the third quarter worth approximately $141,000. Hedge funds and other institutional investors own 77.74% of the company’s stock.

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Several equities analysts recently issued reports on PSX shares. Goldman Sachs upgraded shares of Phillips 66 to a “buy” rating in a research report on Monday, December 18th. Royal Bank of Canada reiterated a “hold” rating and set a $102.00 price target on shares of Phillips 66 in a research report on Wednesday, December 20th. Credit Suisse Group started coverage on shares of Phillips 66 in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $108.00 price target on the stock. Scotiabank reiterated a “buy” rating and set a $112.00 price target on shares of Phillips 66 in a research report on Wednesday, January 10th. Finally, Barclays reiterated a “sell” rating and set a $111.00 price target on shares of Phillips 66 in a research report on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. Phillips 66 has a consensus rating of “Hold” and a consensus target price of $104.19.

Shares of PSX opened at $102.63 on Friday. The stock has a market capitalization of $47,839.58, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 1.77 and a beta of 1.07. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.09 and a current ratio of 1.42. Phillips 66 has a fifty-two week low of $75.14 and a fifty-two week high of $107.47.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.21. The firm had revenue of $30.12 billion for the quarter, compared to the consensus estimate of $30.71 billion. Phillips 66 had a net margin of 4.88% and a return on equity of 9.18%. During the same quarter in the prior year, the firm posted $0.16 earnings per share. equities analysts predict that Phillips 66 will post 6.82 earnings per share for the current year.

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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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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