Check Out What Whales Are Doing With PSX
Portfolio Pulse from Benzinga Insights
High-rolling investors have shown a bearish sentiment on Phillips 66 (NYSE:PSX), with options data revealing a significant move towards bearish positions. Benzinga's tracking identified 13 options trades, all indicating a bearish outlook with a focus on a price band between $155.0 and $170.0. Despite the bearish options activity, analysts have given PSX an average target price of $175.6, with ratings ranging from Neutral to Overweight. The company's next earnings report is due in 17 days, and its current stock price is down by -2.15%, trading at $164.93.
April 09, 2024 | 8:01 pm
News sentiment analysis
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NEGATIVE IMPACT
Phillips 66 has seen significant bearish options activity, indicating potential downward pressure on its stock price in the short term. However, analyst ratings suggest a more optimistic long-term view with an average target price of $175.6.
The bearish options activity, especially with 100% of the identified trades being bearish, suggests short-term downward pressure on PSX's stock price. However, the discrepancy between this sentiment and the optimistic analyst ratings, along with an upcoming earnings report, creates a complex outlook. The bearish sentiment is directly tied to the options activity, while the analyst ratings and upcoming earnings report provide a counterbalance that could influence future price movement.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100