What’s Propelling Phillips 66 to Increase So Much?

 What's Propelling Phillips 66 to Increase So Much?

In today’s session Phillips 66 (PSX) registered an unusually high (9,288) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious PSX increase. With 9,288 contracts traded and 157524 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: PSX161118C00082500 closed last at: $0.9 or 5.9% up. About 1.42 million shares traded hands. Phillips 66 (NYSE:PSX) has declined 7.38% since March 30, 2016 and is downtrending. It has underperformed by 10.40% 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 $480.00 million for 22.45 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 8.90% above today’s ($81.73) stock price. Phillips 66 has been the topic of 28 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was upgraded by Credit Suisse to “Outperform” on Tuesday, October 27. The firm has “Neutral” rating by Goldman Sachs given on Friday, September 30. Piper Jaffray maintained it with “Neutral” rating and $74 target price in Monday, August 22 report. The stock of Phillips 66 (NYSE:PSX) has “Equal-Weight” rating given on Wednesday, July 13 by Barclays Capital. UBS initiated Phillips 66 (NYSE:PSX) on Thursday, May 19 with “Neutral” rating. Cowen & Co initiated it with “Market Perform” rating and $92 target price in Monday, March 28 report. RBC Capital Markets maintained it with “Sector Perform” rating and $90.0 target price in Monday, November 2 report. Barclays Capital maintained the shares of PSX in a report on Monday, November 2 with “Overweight” rating. The stock of Phillips 66 (NYSE:PSX) has “Neutral” rating given on Monday, April 11 by Credit Suisse. Morgan Stanley downgraded the stock to “Equal-Weight” rating in Friday, June 17 report.

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 2016 Q2. Its down 0.09, from 0.9 in 2016Q1. The ratio is negative, 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.
Wedgewood Investors Pa, a Pennsylvania-based fund reported 4,914 shares. Fred Alger Management reported 56 shares or 0% of all its holdings. Bank Of Montreal Can holds 394,285 shares or 0.04% of its portfolio. Telemus Ltd Liability Co last reported 0.03% of its portfolio in the stock. Haverford Tru owns 4,969 shares or 0.01% of their US portfolio. Group Inc One Trading Ltd Partnership accumulated 0% or 3,881 shares. The Massachusetts-based Boston Partners has invested 1.13% in Phillips 66 (NYSE:PSX). Stratos Wealth Prtnrs Ltd has 16,220 shares for 0.1% of their US portfolio. Kbc Gp Nv holds 0.22% or 196,601 shares in its portfolio. Essex Fin Services accumulated 25,270 shares or 0.49% of the stock. Burney Communication accumulated 6,613 shares or 0.04% of the stock. Rhumbline Advisers has invested 0.18% of its portfolio in Phillips 66 (NYSE:PSX). Whittier Trust Of Nevada Incorporated accumulated 6,411 shares or 0.06% of the stock. Jacobs & Com Ca reported 4,406 shares or 0.08% of all its holdings. The Colorado-based Icon Advisers Incorporated has invested 0.93% in Phillips 66 (NYSE:PSX).

Insider Transactions: Since May 19, 2016, the stock had 11 insider buys, and 4 insider sales for $392.51 million net activity. BERKSHIRE HATHAWAY INC bought $6.41M worth of stock. Another trade for 4,372 shares valued at $345,686 was made by Herman Robert A on Thursday, September 15. $5.00M worth of Phillips 66 (NYSE:PSX) was sold by Garland Greg C.. Loomis William R Jr bought $1.00M worth of stock or 12,680 shares. $3.90 million worth of Phillips 66 (NYSE:PSX) was sold by Taylor Timothy Garth. Johnson Paula Ann also sold $3.19M worth of Phillips 66 (NYSE:PSX) shares.

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 $43.11 billion. The Firm operates its business through four divisions: Midstream, Chemicals, Refining, and Marketing and Specialties . It has a 21.41 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 notable recent Phillips 66 (NYSE:PSX) news were published by: Fool.com which released: “Phillips 66’s Earnings: The Best They Could Be in a Tougher Refining Market” on October 31, 2016, also Reuters.com with their article: “Phillips 66 says construction continues on Dakota Access Pipeline” published on October 28, 2016, 247Wallst.com published: “Phillips 66 Earnings Improving Slowly” on October 28, 2016. More interesting news about Phillips 66 (NYSE:PSX) were released by: Seekingalpha.com and their article: “Phillips 66’s (PSX) CEO Greg Garland on Q3 2016 Results – Earnings Call Transcript” published on October 28, 2016 as well as Wsj.com‘s news article titled: “Phillips 66 Posts Revenue and Profit Decline” with publication date: October 28, 2016.

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