How To Buy Phillips 66 (PSX) Stock

How To Buy PSX

Phillips 66 (PSX) is a common stock listed on the NYSE exchange, which means you can buy the stock from most online brokers. Follow the steps below to learn how to purchase shares of PSX.

1. Find a reliable broker.

   Don't worry, it's easy and free to open a brokerage account. Below are our favorite brokers where you can buy Phillips 66 from:

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2. Fund your new account.

   You'll need to transfer money into your new brokerage account before you can buy the stock. Transferring via a bank transfer is recommended and the most common way to fund an account. Some brokers might allow funding via a debit or credit card.

3. Search for PSX.

   When your funds are settled into your account, look for Phillips 66 on your broker by searching for the company name: Phillips 66 or the ticker symbol: PSX.

4. Buy the stock.

   Once that you've found Phillips 66 on your broker, submit a purchase order to buy shares of the stock (currently $110.37 a share). Depending on when you purchase, the stock might be higher or lower than the price listed. You may also be able to purchase fractional shares depending on your broker.

   Once your order gets fulfilled, you've purchased your first shares of Phillips 66.

   Tips When Buying

   When submitting your order, you may choose to buy shares of Phillips 66 at the market price with a market order or at a set price using a limit order.

   • Market order: Buys the stock immediately at its current price.
   • Limit order: Buys the stock only once it reaches your target price.

   By default all purchases are considered market orders unless specified otherwise. Limit orders are great for when you only want to buy shares of PSX at a specific price.

Should You Buy PSX Stock Now?

In the past week the price per share of Phillips 66 has gone down ↓5.92 (-5.09%) while the daily volume has increased by more than 2x the daily average. You should buy PSX now if you think the stock will recover soon, or wait until you think the stock is done dropping.

In the end, you should be comfortable with the risk of the investment and only buy shares of PSX when you feel the time is right.