Phillips 66 (PSX): Insiders Aren’t Crazy About It But Hedge Funds Love It

Page 1 of 2

Phillips 66 (NYSE:PSX) has seen mixed sentiment from two of the indicators we track. For all intents and purposes, let’s take a look at the details.

In the financial world, there are many methods market participants can use to watch Mr. Market. Some of the most under-the-radar are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite money managers can outperform the S&P 500 by a very impressive margin (see just how much).

Just as key, positive insider trading sentiment is another way to analyze the stock market universe. Just as you’d expect, there are plenty of reasons for an upper level exec to cut shares of his or her company, but just one, very clear reason why they would behave bullishly. Several empirical studies have demonstrated the useful potential of this method if you know where to look (learn more here).

Furthermore, it’s important to examine the latest info surrounding Phillips 66 (NYSE:PSX).

How are hedge funds trading Phillips 66 (NYSE:PSX)?

At the end of the second quarter, a total of 50 of the hedge funds we track were long in this stock, a change of 4% from the first quarter. With hedge funds’ capital changing hands, there exists a few noteworthy hedge fund managers who were upping their stakes meaningfully.

Phillips 66 (NYSE:PSX)Out of the hedge funds we follow, Berkshire Hathaway, managed by Warren Buffett, holds the most valuable position in Phillips 66 (NYSE:PSX). Berkshire Hathaway has a $1.6002 billion position in the stock, comprising 1.8% of its 13F portfolio. On Berkshire Hathaway’s heels is D E Shaw, managed by D. E. Shaw, which held a $208.4 million position; 0.4% of its 13F portfolio is allocated to the stock. Some other peers that hold long positions include Steven Richman’s East Side Capital (RR Partners), Larry Robbins’s Glenview Capital and Ken Griffin’s Citadel Investment Group.

As aggregate interest spiked, particular hedge funds were breaking ground themselves. Berkshire Hathaway, managed by Warren Buffett, created the biggest position in Phillips 66 (NYSE:PSX). Berkshire Hathaway had 1.6002 billion invested in the company at the end of the quarter. D. E. Shaw’s D E Shaw also made a $208.4 million investment in the stock during the quarter. The other funds with brand new PSX positions are Steven Richman’s East Side Capital (RR Partners), Larry Robbins’s Glenview Capital, and Ken Griffin’s Citadel Investment Group.

What do corporate executives and insiders think about Phillips 66 (NYSE:PSX)?

Legal insider trading, particularly when it’s bullish, is most useful when the company in question has experienced transactions within the past six months. Over the last six-month time frame, Phillips 66 (NYSE:PSX) has seen zero unique insiders buying, and 1 insider sales (see the details of insider trades here).

We’ll also take a look at the relationship between both of these indicators in other stocks similar to Phillips 66 (NYSE:PSX). These stocks are Marathon Oil Corporation (NYSE:MRO), Hess Corp. (NYSE:HES), Valero Energy Corporation (NYSE:VLO), Marathon Petroleum Corp (NYSE:MPC), and Imperial Oil Limited (USA) (NYSEAMEX:IMO). This group of stocks are in the oil & gas refining & marketing industry and their market caps are closest to PSX’s market cap.

Page 1 of 2
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 Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

Top 10 Most Expensive Luxury Cars in the World – 2014

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!