Phillips 66 Target of Unusually Large Options Trading (PSX)
Shares of Phillips 66 (NYSE:PSX) was the target of unusually large options trading activity on Thursday. Traders purchased 44,355 call options on the stock, Stock Ratings Network.com reports. This represents an increase of approximately 967% compared to the average volume of 4,158 call options.
A number of analysts have recently weighed in on PSX shares. Analysts at Credit Suisse cut their price target on shares of Phillips 66 from $70.00 to $66.00 in a research note to investors on Wednesday, October 9th. They now have an “outperform” rating on the stock. Separately, analysts at Oppenheimer downgraded shares of Phillips 66 from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, October 4th. Finally, analysts at Oppenheimer reiterated a “buy” rating on shares of Phillips 66 in a research note to investors on Tuesday, October 1st. They now have a $75.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $59.99.
Shares of Phillips 66 (NYSE:PSX) traded up 2.45% on Thursday, hitting $62.22. The stock had a trading volume of 3,392,436 shares. Phillips 66 has a 1-year low of $43.93 and a 1-year high of $70.52. The stock has a 50-day moving average of $58.02 and a 200-day moving average of $60.27. The company has a market cap of $38.018 billion and a price-to-earnings ratio of 8.23.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by $0.31. During the same quarter in the previous year, the company posted $2.23 earnings per share. On average, analysts predict that Phillips 66 will post $6.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, December 2nd. Shareholders of record on Thursday, November 14th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Phillips 66′s previous quarterly dividend of $0.31.
Phillips 66 is a holding company. The Company is engaged in producing natural gas liquids (NYSE:PSX) and petrochemicals.
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