Phillips 66 Sees Unusually High Options Volume (PSX)
Shares of Phillips 66 (NYSE:PSX) was the target of unusually large options trading activity on Thursday. Stock investors purchased 6,310 put options on the stock, StockRatingsNetwork reports. This is an increase of approximately 372% compared to the typical daily volume of 1,338 put options.
A number of research firms have recently commented on PSX. Analysts at Credit Suisse downgraded shares of Phillips 66 from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday. Separately, analysts at Deutsche Bank raised their price target on shares of Phillips 66 from $35.00 to $41.00 in a research note to investors on Monday. They now have a “hold” rating on the stock. Finally, analysts at Raymond James upgraded shares of Phillips 66 from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, January 23rd. They now have a $90.00 price target on the stock. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Phillips 66 presently has an average rating of “Hold” and an average price target of $66.86.
Phillips 66 (NYSE:PSX) traded down 0.84% during mid-day trading on Thursday, hitting $73.56. The stock had a trading volume of 4,595,404 shares. Phillips 66 has a one year low of $54.80 and a one year high of $79.00. The stock’s 50-day moving average is $75.13 and its 200-day moving average is $64.54. The company has a market cap of $44.102 billion and a P/E ratio of 12.90.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $1.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.07 by $0.30. During the same quarter last year, the company posted $2.06 earnings per share. Analysts expect that Phillips 66 will post $5.60 EPS for the current fiscal year.
Phillips 66 is a holding company. The Company is engaged in producing natural gas liquids (NYSE:PSX) and petrochemicals.
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