Phillips 66 Partners LP (PSXP) shares are trading more than 8 percent on Friday morning trade, despite no company-specific news to influence the stock movement today.
The master limited partnership formed by Phillips 66 to own, operate, develop and acquire crude related assets on Monday had reported first quarter net income guidance in a range of loss of $60 million to high of $10 million. The shares have been climbing since then.
Currently PSXP is at $32.80, up 8.73 percent from the previous close of $30.45. The shares have traded in a range of $21.28-$48.51 on average volume of 1,167,826.
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