After Today’s Bearish Options Activity, Is Phillips 66 Partners LP’s Near-Term Analysis Positive?

 After Today's Bearish Options Activity, Is Phillips 66 Partners LP's Near Term Analysis Positive?

In today’s session Phillips 66 Partners LP (PSXP) recorded an unusually high (197) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the March, 2017 put, expecting serious PSXP decrease. With 197 contracts traded and 4174 open interest for the Mar, 17 contract, it seems this is a quite bearish bet. The option with symbol: PSXP170317P00045000 closed last at: $3.2 or 23.1% up. About 17,193 shares traded hands. Phillips 66 Partners LP (NYSE:PSXP) has declined 24.57% since April 26, 2016 and is downtrending. It has underperformed by 29.83% the S&P500.

Analysts await Phillips 66 Partners LP (NYSE:PSXP) to report earnings on February, 3. They expect $0.75 EPS, up 22.95% or $0.14 from last year’s $0.61 per share. PSXP’s profit will be $77.54 million for 14.67 P/E if the $0.75 EPS becomes a reality. After $0.57 actual EPS reported by Phillips 66 Partners LP for the previous quarter, Wall Street now forecasts 31.58% EPS growth.

Phillips 66 Partners LP (NYSE:PSXP) Ratings Coverage

Out of 13 analysts covering Phillips 66 Partners (NYSE:PSXP), 9 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 69% are positive. $81 is the highest target while $55 is the lowest. The $69.60 average target is 58.15% above today’s ($44.01) stock price. Phillips 66 Partners has been the topic of 16 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was initiated by Morgan Stanley with “Overweight” on Thursday, February 25. The rating was initiated by Jefferies on Tuesday, August 23 with “Hold”. The company was initiated on Thursday, August 18 by Stifel Nicolaus. Credit Suisse upgraded the shares of PSXP in a report on Monday, October 26 to “Outperform” rating. The firm earned “Buy” rating on Monday, October 10 by . The firm earned “Market Perform” rating on Tuesday, May 3 by Wells Fargo. JP Morgan maintained Phillips 66 Partners LP (NYSE:PSXP) on Tuesday, March 15 with “Overweight” rating. The stock has “Neutral” rating given by Goldman Sachs on Thursday, August 25. Evercore maintained the shares of PSXP in a report on Thursday, September 3 with “Buy” rating. The stock has “Outperform” rating given by Raymond James on Thursday, April 21.

According to Zacks Investment Research, “Phillips 66 Partners L.P is a downstream energy company. It operates in three segments: Refining and Marketing, Midstream and Chemicals. Refining and Marketing segment purchases, refines, markets and transports crude oil and petroleum products primarily in the United States, Europe and Asia. This segment also includes power generation operations. Midstream segment gathers, processes, transports and markets natural gas and transports, fractionates and markets natural gas liquids primarily in the United States. Chemicals segment manufactures and markets petrochemicals and plastics. Phillips 66 Partners L.P is headquartered in Houston, Texas.”

Insitutional Activity: The institutional sentiment increased to 2.39 in 2016 Q2. Its up 0.82, from 1.57 in 2016Q1. The ratio increased, as 18 funds sold all Phillips 66 Partners LP shares owned while 28 reduced positions. 26 funds bought stakes while 46 increased positions. They now own 33.71 million shares or 51.45% more from 22.26 million shares in 2016Q1.
Glob Endowment Mngmt L P, a North Carolina-based fund reported 4,630 shares. Raymond James Financial Services Advsr Incorporated reported 73,149 shares or 0.04% of all its holdings. Westwood Group last reported 0.54% of its portfolio in the stock. Texas Yale has invested 0.73% of its portfolio in Phillips 66 Partners LP (NYSE:PSXP). Spirit Of America Mgmt Corporation Ny last reported 159,967 shares in the company. Alps Advsrs owns 2.28M shares or 1.13% of their US portfolio. Yorkville Capital Mngmt Llc last reported 0.7% of its portfolio in the stock. Ameriprise owns 4,915 shares or 0% of their US portfolio. Virtu Ltd Llc owns 13,521 shares or 0.1% of their US portfolio. Parkside Bankshares Trust has invested 0.46% of its portfolio in Phillips 66 Partners LP (NYSE:PSXP). Bancshares Of America Corporation De has invested 0% of its portfolio in Phillips 66 Partners LP (NYSE:PSXP). Ftb Advsr has 0.01% invested in the company for 711 shares. Stifel Fincl owns 12,792 shares or 0% of their US portfolio. Nelson Van Denburg & Campbell Wealth Mgmt Group Inc owns 184 shares or 0.01% of their US portfolio. Carroll holds 178 shares or 0% of its portfolio.

Insider Transactions: Since November 17, 2016, the stock had 1 insider buy, and 0 sales for $217,637 net activity. On Thursday, November 17 Taylor Timothy Garth bought $217,637 worth of the stock or 5,000 shares.

Phillips 66 Partners LP owns, operates, develops and acquires fee crude oil, refined petroleum product and natural gas liquids pipelines, terminals and other transportation and midstream assets. The company has a market cap of $4.55 billion. The Firm charges tariffs and fees for transporting crude oil and refined petroleum product pipeline, terminal, rail rack and storage systems in the Central, Gulf Coast, Atlantic Basin and Western regions of the United States. It has a 20.63 P/E ratio. The Company’s assets also consists of systems, which include Clifton Ridge Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Cross-Channel Connector Project, Eagle Ford Gathering System Project, Sand Hills/Southern Hills/Explorer Pipeline joint ventures, Bakken Joint Ventures and Bayou Bridge joint venture.

PSXP Company Profile

Phillips 66 Partners LP, incorporated on February 20, 2013, owns, operates, develops and acquires fee crude oil, refined petroleum product and natural gas liquids (NGL) pipelines, terminals and other transportation and midstream assets. The Firm charges tariffs and fees for transporting crude oil and refined petroleum product pipeline, terminal, rail rack and storage systems in the Central, Gulf Coast, Atlantic Basin and Western regions of the United States. The Company’s assets also consists of systems, which include Clifton Ridge Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Cross-Channel Connector Project, Eagle Ford Gathering System Project, Sand Hills/Southern Hills/Explorer Pipeline joint ventures, Bakken Joint Ventures and Bayou Bridge joint venture.

More notable recent Phillips 66 Partners LP (NYSE:PSXP) news were published by: Prnewswire.com which released: “Oil & Gas Stocks under Scanner — Delek US, CVR Energy, Sunoco, and Phillips …” on November 29, 2016, also Businesswire.com with their article: “Phillips 66 Partners Announces $1.3 Billion Acquisition” published on October 11, 2016, Marketwatch.com published: “MLP Phillips 66 Partners profit and revenue falls short of estimates” on October 28, 2016. More interesting news about Phillips 66 Partners LP (NYSE:PSXP) were released by: Marketwatch.com and their article: “Phillips 66 Partners to buy crude and natgas logistics assets for $1.3 billion” published on October 11, 2016 as well as Moodys.com‘s news article titled: “Moody’s rates Phillips 66 Partners’ announced notes Baa3; outlook stable” with publication date: October 11, 2016.

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