On July 7, 2023 at 11:56:54 ET an unusually large $427.04K block of Call contracts in Phillips 66 (PSX) was sold, with a strike price of $110.00 / share, expiring in 350 day(s) (on June 21, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 1.00 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in PSX options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 2502 funds or institutions reporting positions in Phillips 66. This is an increase of 17 owner(s) or 0.68% in the last quarter. Average portfolio weight of all funds dedicated to PSX is 0.33%, a decrease of 15.31%. Total shares owned by institutions increased in the last three months by 5.51% to 387,872K shares. The put/call ratio of PSX is 0.88, indicating a bullish outlook.
Analyst Price Forecast Suggests 28.91% Upside
As of July 6, 2023, the average one-year price target for Phillips 66 is 122.98. The forecasts range from a low of 102.01 to a high of $145.95. The average price target represents an increase of 28.91% from its latest reported closing price of 95.40.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Phillips 66 is 145,981MM, a decrease of 13.21%. The projected annual non-GAAP EPS is 14.16.
What are Other Shareholders Doing?
Ofi Invest Asset Management holds 31,606K shares representing 6.89% ownership of the company.
Wells Fargo holds 17,024K shares representing 3.71% ownership of the company. In it’s prior filing, the firm reported owning 16,802K shares, representing an increase of 1.30%. The firm decreased its portfolio allocation in PSX by 5.31% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 14,361K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 14,367K shares, representing a decrease of 0.04%. The firm decreased its portfolio allocation in PSX by 10.09% over the last quarter.
XLE – The Energy Select Sector SPDR Fund holds 13,392K shares representing 2.92% ownership of the company. In it’s prior filing, the firm reported owning 13,681K shares, representing a decrease of 2.15%. The firm increased its portfolio allocation in PSX by 2.54% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 10,874K shares representing 2.37% ownership of the company. In it’s prior filing, the firm reported owning 10,926K shares, representing a decrease of 0.48%. The firm decreased its portfolio allocation in PSX by 10.10% over the last quarter.
Phillips 66 Declares $1.05 Dividend
On May 10, 2023 the company declared a regular quarterly dividend of $1.05 per share ($4.20 annualized). Shareholders of record as of May 22, 2023 received the payment on June 1, 2023. Previously, the company paid $1.05 per share.
At the current share price of $95.40 / share, the stock’s dividend yield is 4.40%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.32%, the lowest has been 2.61%, and the highest has been 8.55%. The standard deviation of yields is 1.02 (n=236).
The current dividend yield is 0.08 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.16. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.17%, demonstrating that it has increased its dividend over time.
Phillips 66 Background Information
(This description is provided by the company.)
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,300 employees committed to safety and operating excellence. Phillips 66 had $55 billion of assets as of Dec. 31, 2020.
Key filings for this company:
This story originally appeared on Fintel.
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