Should You Buy Phillips 66 Partners LP (PSXP) Stock on Wednesday?

Wednesday, October 27, 2021 11:28 AM | InvestorsObserver Analysts

Mentioned in this article

Should You Buy Phillips 66 Partners LP (PSXP) Stock on Wednesday?

Overall market sentiment has been down on Phillips 66 Partners LP (PSXP) stock lately. PSXP receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.

Phillips 66 Partners LP has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on PSXP!

See Full PSXP Report

What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Sentiment is how investors, or the market, feels about a stock. There are lots of ways to measure sentiment. At the core, sentiment is pretty easy to understand. If a stock is going up, investors must be bullish, while if it is going down, sentiment is bearish. InvestorsObserver’s Sentiment Indicator looks at price trends over the past week and also considers changes in volume. Increasing volume can mean a trend is getting stronger, while decreasing volume can mean a trend is nearing a conclusion. For stocks that have options, our system also considers the balance between calls, which are often bets that the price will go up, and puts, which are frequently bets that the price will fall.

What's Happening With PSXP Stock Today?

Phillips 66 Partners LP (PSXP) stock is trading at $39.55 as of 11:14 AM on Wednesday, Oct 27, an increase of $0.36, or 0.92% from the previous closing price of $39.19. Volume today is above average. So far 2,365,430 shares have traded compared to average volume of 355,255 shares. The stock has traded between $39.36 and $41.79 so far today.

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 Report for Phillips 66 Partners LP stock.