Phillips 66 Partners LP (PSXP) Shares are Up 2.62%

Phillips 66 Partners LP (PSXP) has been under a strong bear grip, hence the stock is down -1.51% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.45% in the past 1 week. The stock has risen by 2.62% in the past week indicating that the buyers are active at lower levels, but the stock is down -2.04% in the past 4 weeks.

The stock has recorded a 20-day Moving Average of 1.19% and the 50-Day Moving Average is 2.07%.The 200 Day SMA reached 10.85%

Phillips

Phillips 66 Partners LP (NYSE:PSXP): After opening at $48.25, the stock dipped to an intraday low of $47.68 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $48.69 and the buying power remained strong till the end. The stock closed at $48.6 for the day, a gain of 1.72% for the day session. The total traded volume was 616,948. The stocks close on the previous trading day was $48.6.

Phillips 66 Partners LP (PSXP) : 9 investment research analysts covering Phillips 66 Partners LP (PSXP) have an average price target of $62.56 for the near short term. The highest target price given by the Brokerage Firm to the stock is $75 and the lowest target is $54 for the short term. Analysts expect the variance to be within $5.85 of the average price.

Phillips 66 Partners LP owns, operates, develops and acquires fee-based crude oil, refined petroleum product and natural gas liquids (NGL) pipelines, terminals and other transportation and midstream assets. The Companys assets consist of crude oil and refined petroleum product pipeline, terminal, rail rack and storage systems in the Central, Gulf Coast, Atlantic Basin and Western regions of the United States. Its assets also consists of systems, which include Clifton Ridge Crude System, Sweeny to Pasadena Products System, Hartford Connector Products System, Gold Line Products System, Medford Spheres, Bayway Rail Rack, Ferndale Rail Rack, Cross-Channel Connector Project, Palermo Rail Terminal Project and Eagle Ford Gathering System Project. Phillips 66, through Phillips 66 Company, owns 20,938,498 common units and 35,217,112 subordinated units, representing an aggregate 73.3% limited partner interest, and a 100% interest in Phillips 66 Partners GP LLC (the Companys General Partner).

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