Phillips 66 Partners LP (NYSE:PSXP) was the recipient of some unusual options trading activity on Monday. Stock traders purchased 507 call options on the company. This represents an increase of 839% compared to the average daily volume of 54 call options.
Hedge funds and other institutional investors have recently bought and sold shares of the company. First Reserve GP XIII Ltd acquired a new position in shares of Phillips 66 Partners during the fourth quarter worth $165,013,000. Atlantic Trust Group LLC lifted its position in shares of Phillips 66 Partners by 71.0% during the third quarter. Atlantic Trust Group LLC now owns 149,940 shares of the oil and gas company’s stock worth $7,882,000 after purchasing an additional 62,279 shares in the last quarter. Glenmede Trust Co. NA lifted its position in shares of Phillips 66 Partners by 25.0% during the fourth quarter. Glenmede Trust Co. NA now owns 54,686 shares of the oil and gas company’s stock worth $2,862,000 after purchasing an additional 10,926 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Phillips 66 Partners by 2.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 90,245 shares of the oil and gas company’s stock worth $4,724,000 after purchasing an additional 1,815 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in Phillips 66 Partners by 2.9% in the third quarter. California Public Employees Retirement System now owns 86,116 shares of the oil and gas company’s stock valued at $4,526,000 after acquiring an additional 2,416 shares in the last quarter. 41.14% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE PSXP traded up $0.01 during trading on Thursday, reaching $48.93. 227,420 shares of the stock were exchanged, compared to its average volume of 308,256. Phillips 66 Partners has a twelve month low of $44.40 and a twelve month high of $56.48. The company has a current ratio of 1.71, a quick ratio of 1.64 and a debt-to-equity ratio of 2.06. The stock has a market cap of $5,926.63, a P/E ratio of 18.70, a PEG ratio of 1.69 and a beta of 1.40.
Phillips 66 Partners (NYSE:PSXP) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). Phillips 66 Partners had a return on equity of 27.99% and a net margin of 44.16%. The firm had revenue of $331.00 million for the quarter, compared to analyst estimates of $316.00 million. During the same period in the previous year, the firm posted $0.65 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. research analysts expect that Phillips 66 Partners will post 3.21 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Phillips 66 Partners from a “buy” rating to a “hold” rating in a report on Thursday. Citigroup decreased their price objective on shares of Phillips 66 Partners from $60.00 to $56.50 and set a “buy” rating for the company in a research note on Tuesday, March 27th. JPMorgan Chase reiterated an “overweight” rating and set a $61.00 price objective (up from $60.00) on shares of Phillips 66 Partners in a research note on Tuesday, March 13th. Barclays decreased their price objective on shares of Phillips 66 Partners from $59.00 to $56.00 and set an “equal weight” rating for the company in a research note on Monday, February 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $62.00 price objective (up from $59.00) on shares of Phillips 66 Partners in a research note on Sunday, February 4th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $57.38.
COPYRIGHT VIOLATION NOTICE: “Stock Traders Purchase Large Volume of Phillips 66 Partners Call Options (NYSE:PSXP)” was first published by Macon Daily and is the property of of Macon Daily. If you are accessing this story on another site, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this story can be read at https://macondaily.com/2018/04/12/stock-traders-purchase-large-volume-of-call-options-on-phillips-66-partners-psxp-updated-updated-updated.html.
Phillips 66 Partners Company Profile
Phillips 66 Partners LP (Phillips 66) owns, operates, develops and acquires fee-based crude oil, refined petroleum product and natural gas liquids (NGL) pipelines, terminals and other transportation and midstream assets. The Company’s assets consist of systems, such as Clifton Ridge Crude System, Eagle Ford Gathering System, Ponca Crude System, Billings Crude System, Borger Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Cross-Channel Connector Products System, Ponca Products System, Billings Products System, Bayway Products System, Standish Pipeline, Borger Products System, River Parish NGL System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Sand Hills/Southern Hills Joint Ventures, Explorer Pipeline Joint Venture, Bakken Joint Ventures, Bayou Bridge Pipeline Joint Venture, STACK Pipeline Joint Venture, and Sweeny Fractionator and Clemens Caverns.
Receive News & Ratings for Phillips 66 Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 Partners and related companies with MarketBeat.com's FREE daily email newsletter.