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.

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 9 Most Dangerous Countries for Tourists to Visit

Reign of Terror: The 10 Most Ruthless Politicians in History

On the Move: The 10 Fastest Growing Businesses in 2015

Fast Money: The 10 Highest Paying Fast Food Restaurants

Mixing It Up: The 14 Best Music Mashups of 2014

Rito Pls Buff: The 10 Least Played Champions in LoL Season 4

10 Covers of Popular Songs that are Better than the Originals

Must See TV: The 9 Most Anticipated Shows of 2015

The 15 Biggest Box Office Bombs of All Time

10 Things The World Can’t Stand About Americans

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!