Time to Buy Phillips 66 After Today’s Option Traders Bet?

 Time to Buy Phillips 66 After Today's Option Traders Bet?

In today’s session Phillips 66 (PSX) registered an unusually high (162) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the June, 2017 call, expecting serious PSX increase. With 162 contracts traded and 5234 open interest for the Jun, 17 contract, it seems this is a quite bullish bet. The option with symbol: PSX170616C00090000 closed last at: $3.9 or 8.3% up. About 1.49 million shares traded hands. Phillips 66 (NYSE:PSX) has declined 3.46% since April 25, 2016 and is downtrending. It has underperformed by 9.47% the S&P500.

Analysts await Phillips 66 (NYSE:PSX) to report earnings on February, 3. They expect $0.69 EPS, down 47.33% or $0.62 from last year’s $1.31 per share. PSX’s profit will be $358.64 million for 30.69 P/E if the $0.69 EPS becomes a reality. After $1.05 actual EPS reported by Phillips 66 for the previous quarter, Wall Street now forecasts -34.29% 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. Phillips 66 has been the topic of 28 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was downgraded by Morgan Stanley to “Equal-Weight” on Friday, June 17. The rating was maintained by Oppenheimer on Friday, December 4 with “Outperform”. The firm earned “Equal-Weight” rating on Monday, October 10 by . The firm has “Neutral” rating by Goldman Sachs given on Friday, September 30. As per Monday, August 22, the company rating was maintained by Piper Jaffray. The firm has “Neutral” rating given on Monday, April 11 by Credit Suisse. The stock has “Market Perform” rating given by Cowen & Co on Monday, March 28. The rating was downgraded by Goldman Sachs to “Sell” on Monday, November 23. Barclays Capital maintained the shares of PSX in a report on Monday, November 2 with “Overweight” rating. Oppenheimer maintained Phillips 66 (NYSE:PSX) rating on Friday, September 18. Oppenheimer has “Outperform” rating and $95 price target.

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 increased to 0.99 in 2016 Q2. Its up 0.18, from 0.81 in 2016Q1. The ratio is positive, 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.
Cipher Cap Limited Partnership has 0.17% invested in the company for 31,400 shares. First Citizens Natl Bank Trust Communications, a North Carolina-based fund reported 45,811 shares. Cypress Cap Mgmt Ltd Liability (Wy) has 0% invested in the company for 1,100 shares. Allsquare Wealth Mgmt Limited Liability holds 0.01% or 100 shares in its portfolio. The Florida-based Cap Wealth Planning Ltd Co has invested 0.48% in Phillips 66 (NYSE:PSX). Private Asset accumulated 0.05% or 3,799 shares. Kornitzer Management Inc Ks has 119,849 shares for 0.17% of their US portfolio. South State Corp last reported 0.57% of its portfolio in the stock. Moreover, Baldwin Brothers Ma has 0.1% invested in Phillips 66 (NYSE:PSX) for 6,154 shares. Moreover, Mycio Wealth Limited Liability Company has 0% invested in Phillips 66 (NYSE:PSX) for 295 shares. Cardinal Capital, a North Carolina-based fund reported 16,208 shares. Burnham Asset Mgmt Ny, a New York-based fund reported 20,300 shares. The Pennsylvania-based Fulton Bancshares Na has invested 0.04% in Phillips 66 (NYSE:PSX). Kcg Incorporated has invested 0.04% of its portfolio in Phillips 66 (NYSE:PSX). City Hldgs accumulated 18,784 shares or 0.66% of the stock.

Insider Transactions: Since June 3, 2016, the stock had 8 insider buys, and 7 insider sales for $219.63 million net activity. On Tuesday, November 8 Ziemba Lawrence Michael sold $5.82 million worth of the stock or 72,630 shares. Herman Robert A also sold $345,686 worth of Phillips 66 (NYSE:PSX) on Thursday, September 15. $6.53M worth of Phillips 66 (NYSE:PSX) was bought by BERKSHIRE HATHAWAY INC. On Thursday, November 10 Garland Greg C. sold $6.36 million worth of the stock or 76,165 shares. Taylor Timothy Garth had sold 50,000 shares worth $3.90 million. Shares for $1.00M were bought by Loomis William R Jr on Monday, June 13. Johnson Paula Ann sold 40,141 shares worth $3.19 million.

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 $44.03 billion. The Firm operates its business through four divisions: Midstream, Chemicals, Refining, and Marketing and Specialties . It has a 22.19 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: Fool.com which released: “Better Buy: Suncor Energy Inc. vs. Phillips 66” on November 01, 2016, also Fool.com published article titled: “Phillips 66’s Earnings: The Best They Could Be in a Tougher Refining Market”, Seekingalpha.com published: “Why Phillips 66’s Momentum Will Continue” on November 21, 2016. More interesting news about Phillips 66 (NYSE:PSX) was released by: Bizjournals.com and their article: “Phillips 66 names new marketing, commercial group leadership” with publication date: November 11, 2016.

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