Stock Traders Buy Large Volume of Call Options on Phillips 66 (PSX)

Phillips 66 (NYSE:PSX) was the target of some unusual options trading activity on Thursday. Investors bought 54,373 call options on the company. This is an increase of 2,630% compared to the typical volume of 1,992 call options.

Shares of Phillips 66 stock opened at $121.87 on Friday. Phillips 66 has a 52-week low of $116.15 and a 52-week high of $118.00. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.48. The stock has a market cap of $55.04 billion, a PE ratio of 27.82, a PEG ratio of 1.95 and a beta of 1.07.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 27th. The oil and gas company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Phillips 66 had a net margin of 4.85% and a return on equity of 10.00%. The business had revenue of $24.05 billion for the quarter, compared to analyst estimates of $29.23 billion. During the same period in the previous year, the business posted $0.56 earnings per share. equities analysts anticipate that Phillips 66 will post 7.11 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Monday, May 21st will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.63%. This is a positive change from Phillips 66’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, May 18th. Phillips 66’s payout ratio is 63.93%.

A number of equities research analysts have recently commented on the stock. Argus upped their target price on shares of Phillips 66 to $133.00 and gave the company a “buy” rating in a report on Thursday. Credit Suisse Group upped their target price on shares of Phillips 66 from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Monday, April 30th. Barclays upped their target price on shares of Phillips 66 from $105.00 to $115.00 and gave the company an “underweight” rating in a report on Monday, April 30th. Citigroup upped their target price on shares of Phillips 66 from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Finally, Piper Jaffray reaffirmed a “buy” rating and issued a $115.00 target price on shares of Phillips 66 in a report on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Phillips 66 presently has an average rating of “Hold” and a consensus price target of $106.19.

Several institutional investors have recently modified their holdings of the company. Elkfork Partners LLC acquired a new position in Phillips 66 during the fourth quarter worth about $1,633,000. Haverford Trust Co. grew its position in Phillips 66 by 18.0% during the fourth quarter. Haverford Trust Co. now owns 12,450 shares of the oil and gas company’s stock worth $1,259,000 after buying an additional 1,900 shares during the period. Smith Moore & CO. grew its position in Phillips 66 by 10.0% during the fourth quarter. Smith Moore & CO. now owns 9,509 shares of the oil and gas company’s stock worth $962,000 after buying an additional 863 shares during the period. Pin Oak Investment Advisors Inc. acquired a new position in Phillips 66 during the fourth quarter worth about $119,000. Finally, Timber Hill LLC grew its position in Phillips 66 by 709.1% during the fourth quarter. Timber Hill LLC now owns 32,365 shares of the oil and gas company’s stock worth $3,274,000 after buying an additional 28,365 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks, delivers refined products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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