Overall market sentiment has been down on Phillips 66 Partners LP (PSXP) stock lately. PSXP receives a Bearish rating from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With PSXP Stock Today?
Phillips 66 Partners LP (PSXP) stock is trading at $33.00 as of 9:55 AM on Friday, Apr 9, an increase of $2.55, or 8.37% from the previous closing price of $30.45. The stock has traded between $30.46 and $33.01 so far today. Volume today is below average. So far 289,760 shares have traded compared to average volume of 1,113,821 shares.
To see the top 5 stocks in the Oil & Gas Midstream industry click here.
More About Phillips 66 Partners LP
Phillips 66 Partners is a master limited partnership that provides fee-based transportation, processing, storage, and fractionation services primarily to Phillips 66, which owns a 74% limited partner interest. Phillips 66 Partners' primary revenue sources are long-term, fee-based contracts to handle crude, natural gas liquids, and refined products. Phillips 66 manages and operates Phillips 66 Partners as its noneconomic general partner. Phillips 66's general partner economic interest and incentive distribution rights were eliminated in August 2019.
Click Here to get the full Stock Score Report on Phillips 66 Partners LP (PSXP) Stock.
