Insider Bets Paying Off At PSXP As New 52-Week High Reached

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In trading on Thursday, shares of Phillips 66 Partners LP (Symbol: PSXP) touched a new 52-week high of $55.00/share. That's a 34.94% rise, or $14.24 per share from the 52-week low of $40.76 set back on 12/28/2018. That means at today's intraday high, any investor who purchased PSXP stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, PSXP has seen 2 different instances of insiders buying over the trailing six month period.

Purchased Insider Title Shares Price/Share Value
11/28/2018 Joseph O'toole Director 10,000 $46.96 $469,600.00
01/16/2019 Mark Haney Director 1,392 $49.31 $68,641.33

The chart below shows where PSXP has traded over the past year, with the 50-day and 200-day moving averages included.

Phillips 66 Partners LP Moving Averages Chart

In afternoon trading on Thursday, PSXP shares are changing hands at $54.34/share, slightly below the new 52-week high.

Ten Bargains You Can Buy Cheaper Than The Insiders Did ยป

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Investing Ideas
Referenced Symbols: PSXP

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