Phillips 66 Draws Bearish Options Activity Today

 Phillips 66 Draws Bearish Options Activity Today

In today’s session Phillips 66 (PSX) recorded an unusually high (305) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious PSX decrease. With 305 contracts traded and 17034 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: PSX170120P00072500 closed last at: $1.7 or 17.2% up. About 131,737 shares traded hands. Phillips 66 (NYSE:PSX) has declined 8.42% since March 11, 2016 and is downtrending. It has underperformed by 13.88% the S&P500.

Analysts await Phillips 66 (NYSE:PSX) to report earnings on November, 4. They expect $0.91 earnings per share, down 69.87% or $2.11 from last year’s $3.02 per share. PSX’s profit will be $471.81 million for 21.93 P/E if the $0.91 EPS becomes a reality. After $0.94 actual earnings per share reported by Phillips 66 for the previous quarter, Wall Street now forecasts -3.19% negative EPS growth.

Phillips 66 (NYSE:PSX) Ratings Coverage

Out of 15 analysts covering Phillips 66 (NYSE:PSX), 1 rate it a “Buy”, 0 “Sell”, while 14 “Hold”. This means 7% are positive. $114 is the highest target while $74 is the lowest. The $89 average target is 11.49% above today’s ($79.83) stock price. Phillips 66 has been the topic of 28 analyst reports since August 4, 2015 according to StockzIntelligence Inc. On Thursday, May 19 the stock rating was initiated by UBS with “Neutral”. The firm has “Equal-Weight” rating given on Monday, October 10 by . The stock of Phillips 66 (NYSE:PSX) earned “Equal-Weight” rating by Morgan Stanley on Friday, June 17. Credit Suisse upgraded Phillips 66 (NYSE:PSX) on Tuesday, October 27 to “Outperform” rating. The stock of Phillips 66 (NYSE:PSX) earned “Outperform” rating by Oppenheimer on Friday, December 4. The stock has “Sell” rating given by Goldman Sachs on Monday, November 23. The stock of Phillips 66 (NYSE:PSX) has “Overweight” rating given on Monday, November 2 by Barclays Capital. The firm has “Hold” rating by Jefferies given on Tuesday, August 23. The stock of Phillips 66 (NYSE:PSX) earned “Neutral” rating by Piper Jaffray on Monday, August 22. The stock of Phillips 66 (NYSE:PSX) has “Outperform” rating given on Tuesday, January 26 by Credit Suisse.

According to Zacks Investment Research, “Phillips 66 is a downstream energy company. It operates in three segments: Refining & Marketing, Midstream and Chemicals. The Refining and Marketing segment purchases, refines, markets and transports crude oil and petroleum products, mainly in the United States, Europe and Asia and also engages in power generation activities, lubricants and other specialty products businesses. The Midstream segment gathers, processes, transports and markets natural gas and fractionates and markets NGL, predominantly in the United States. The Chemicals segment manufactures and markets petrochemicals and plastics. Phillips 66 is headquartered in Houston, Texas.”

Insitutional Activity: The institutional sentiment decreased to 0.81 in Q2 2016. Its down 0.09, from 0.9 in 2016Q1. The ratio worsened, as 75 funds sold all Phillips 66 shares owned while 394 reduced positions. 67 funds bought stakes while 314 increased positions. They now own 360.95 million shares or 2.47% less from 370.08 million shares in 2016Q1.
Waldron Ltd Partnership has 0.11% invested in the company for 3,224 shares. Goldman Sachs Gru owns 2.37 million shares or 0.06% of their US portfolio. Washington Trust Commercial Bank holds 0.04% or 2,093 shares in its portfolio. Prudential Finance owns 2.41M shares or 0.32% of their US portfolio. Bradley Foster & Sargent Incorporated Ct holds 0.01% or 3,538 shares in its portfolio. Chatham Capital Gp, a Georgia-based fund reported 59,627 shares. Icon Advisers has 0.93% invested in the company for 172,050 shares. Country Club Tru Na owns 36,009 shares or 0.42% of their US portfolio. Schwab Charles Inv Mgmt has invested 0.16% of its portfolio in Phillips 66 (NYSE:PSX). Ameriprise Financial Inc owns 534,351 shares or 0.02% of their US portfolio. The Illinois-based Calamos Ltd Liability Com has invested 0.06% in Phillips 66 (NYSE:PSX). Pggm Invests owns 732,347 shares or 0.3% of their US portfolio. Benedict Fincl has 0.13% invested in the company for 2,685 shares. Moreover, Edge Wealth Management Ltd has 0.01% invested in Phillips 66 (NYSE:PSX) for 167 shares. Lagoda Inv Management L P has 197 shares for 0.01% of their US portfolio.

Insider Transactions: Since May 19, 2016, the stock had 11 insider buys, and 4 selling transactions for $392.51 million net activity. Shares for $1.39 million were bought by BERKSHIRE HATHAWAY INC. Another trade for 4,372 shares valued at $345,686 was made by Herman Robert A on Thursday, September 15. The insider Taylor Timothy Garth sold $3.90 million. The insider Johnson Paula Ann sold $3.19 million. Loomis William R Jr had bought 12,680 shares worth $1.00 million on Monday, June 13. $5.00 million worth of Phillips 66 (NYSE:PSX) shares were sold by Garland Greg C..

Phillips 66 is an energy manufacturing and logistics firm with midstream, chemicals, refining and marketing, and specialties businesses. The company has a market cap of $41.39 billion. The Firm operates its business through four divisions: Midstream, Chemicals, Refining, and Marketing and Specialties . It has a 13.89 P/E ratio. The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.

PSX Company Profile

Phillips 66, incorporated on November 10, 2011, is an energy manufacturing and logistics firm with midstream, chemicals, refining and marketing, and specialties businesses. The Firm operates its business through four divisions: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S).

More important recent Phillips 66 (NYSE:PSX) news were published by: Reuters.com which released: “Phillips 66 Partners to buy midstream assets from Phillips 66” on October 11, 2016, also Reuters.com published article titled: “Phillips 66 Partners to buy logistics assets from Phillips 66”, Marketwatch.com published: “Phillips 66 Partners to buy crude and natgas logistics assets for $1.3 billion” on October 11, 2016. More interesting news about Phillips 66 (NYSE:PSX) was released by: Businesswire.com and their article: “Phillips 66 Announces Quarterly Dividend” with publication date: October 07, 2016.

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