27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Oppenheimer issued a company update on Phillips 66 (NYSE: PSX) after analysts met with company management. Oppenheimer rates Phillips 66 as Perform, while a price target is unavailable.
Analysts Fadel Gheit and Luis Amadeo wrote, “PSX has a more favorable view on midstream, which is relatively stable compared to refining and generates returns on capital in the 10-12 percent range vs. 8-10 percent for refining. In the long term, PSX believes that refining margins will be flat and challenged. In the near term, DCP is facing several headwinds from the decline in commodity prices, the downgrade of its credit rating, and a capital-constrained partner. PSX would like to inject capital into DCP but doesn't want to have to consolidate the debt.”
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
At the meeting, management reiterated its focus on transforming the company by shifting away from refining while accelerating midstream and chemicals growth. Oppenheimer believes that Phillips 66 may divest refining assets in the future while increasing their leverage to fund future growth. In a welcome sign for investors Phillips 66 believes highly in share repurchases and intends to maintain double-digit dividend growth.
In recent news UK marine gas-oil supplier Geos Group announced a strategic distribution alliance with Phillips 66.
Barry Newton, Geos Group's Managing Director said, “I am delighted that we have formed a mutually beneficial road distribution relationship with Phillips 66, with whom we have been doing business for many years."
Phillips 66 UK and Ireland Managing Director added "this new venture is helping Phillips 66 to shape the changing energy landscape."
Shares of Phillips 66 last traded at $78.34.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.