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What is the Market's View on Phillips 66 (PSX) Stock's Price and Volume Trends Wednesday?

Wednesday, October 05, 2022 01:51 PM | InvestorsObserver Analysts
What is the Market's View on Phillips 66 (PSX) Stock's Price and Volume Trends Wednesday?

Phillips 66 (PSX) stock is higher by 15.14% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator.

Sentiment Score - ,bullish
Phillips 66 has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on PSX!

What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. 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 PSX Stock Today?

Phillips 66 (PSX) stock is higher by 3.63% while the S&P 500 has fallen -0.26% as of 1:40 PM on Wednesday, Oct 5. PSX has gained $3.28 from the previous closing price of $90.44 on volume of 2,844,335 shares. Over the past year the S&P 500 has fallen -12.08% while PSX has gained 23.79%. PSX earned $11.60 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 8.05. To see InvestorsObserver's Sentiment Score for Phillips 66 click here.

More About Phillips 66

Phillips 66 is an independent refiner with 12 refineries that have a total crude throughput capacity of 2.0 million barrels per day, or mmb/d, after converting its 255 mb/d Alliance refinery to a terminal. The midstream segment comprises extensive transportation and NGL processing assets. It also includes its DCP Midstream joint venture, which holds 45 natural gas processing facilities, 11 NGL fractionation plants, and a natural gas pipeline system with 58,000 miles of pipeline. Its CPChem chemical joint venture operates facilities in the United States and the Middle East and primarily produces olefins and polyolefins. Click Here to get the full Stock Report for Phillips 66 stock.

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