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.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

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!