Hedge Funds Are Selling Phillips 66 (NYSE:PSX)

Phillips 66 (NYSE:PSX) was in 39 hedge funds’ portfolio at the end of the fourth quarter of 2012. psx has seen a decrease in activity from the world’s largest hedge funds recently. There were 41 hedge funds in our database with psx positions at the end of the previous quarter.

Phillips 66 (PSX)In the 21st century investor’s toolkit, there are dozens of methods shareholders can use to watch stocks. A couple of the most under-the-radar are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best hedge fund managers can outpace the market by a significant amount (see just how much).

Equally as key, optimistic insider trading activity is another way to parse down the world of equities. Just as you’d expect, there are plenty of reasons for an executive to sell shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Plenty of empirical studies have demonstrated the useful potential of this method if “monkeys” understand what to do (learn more here).

With these “truths” under our belt, we’re going to take a look at the recent action regarding Phillips 66 (NYSE:PSX).

How have hedgies been trading Phillips 66 (NYSE:PSX)?

At year’s end, a total of 39 of the hedge funds we track were long in this stock, a change of -5% from the previous quarter. With hedgies’ capital changing hands, there exists a select group of notable hedge fund managers who were increasing their holdings considerably.

According to our comprehensive database, Warren Buffett’s Berkshire Hathaway had the most valuable position in Phillips 66 (NYSE:PSX), worth close to $1.442 billion, comprising 1.9% of its total 13F portfolio. Coming in second is Steven Richman of East Side Capital (RR Partners), with a $184 million position; 1.8% of its 13F portfolio is allocated to the company. Other peers that hold long positions include Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Jean-Marie Eveillard’s First Eagle Investment Management and Bill Miller’s Legg Mason Capital Management.

Due to the fact that Phillips 66 (NYSE:PSX) has faced falling interest from the entirety of the hedge funds we track, logic holds that there was a specific group of fund managers that elected to cut their entire stakes last quarter. At the top of the heap, Sean Cullinan’s Point State Capital dropped the largest position of all the hedgies we watch, comprising about $35 million in stock.. Doug Silverman’s fund, Senator Investment Group, also dropped its stock, about $28 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest dropped by 2 funds last quarter.

How are insiders trading Phillips 66 (NYSE:PSX)?

Bullish insider trading is at its handiest when the primary stock in question has experienced transactions within the past six months. Over the last 180-day time frame, Phillips 66 (NYSE:PSX) has seen zero unique insiders buying, and 1 insider sales (see the details of insider trades here).

With the results exhibited by our tactics, everyday investors should always pay attention to hedge fund and insider trading sentiment, and Phillips 66 (NYSE:PSX) shareholders fit into this picture quite nicely.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

Insider Monkey’s small-cap strategy returned 29.2% between September 2012 and February 2013 versus 8.7% for the S&P 500 index. Try it now by clicking the link above.

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!