Phillips 66 gains on Q2 profit beat

Shares of refiner Phillips 66 PSX.N rise 2.8% to $127.75 premarket

Company beats Q2 adjusted profit estimates, helped by higher refining margins and lower turnaround expenses

PSX posts Q2 adjusted earnings of $2.38/share vs est of $1.71/share - data compiled by LSEG

Company's Q2 realized margin per barrel was up at $11.25, compared with $10.01 a year earlier

PSX's Q2 turnaround expenses were down at $53 million from $100 million last year

Up till last close, stock up over 9% YTD