5 Best Oil Refinery Stocks To Buy

3. Phillips 66 (NYSE:PSX)

Number of Hedge Fund Investors in Q2 2023: 36

Phillips 66 (NYSE:PSX) is a diversified oil company with refining, marketing, and other operations. The firm is currently seeking to generate cash by selling its business assets, and according to its CEO, it aims to sell up to $3 billion of assets.

By the end of this year’s second quarter, 36 out of the 910 hedge funds part of Insider Monkey’s research had bought and owned a stake in the company. Phillips 66 (NYSE:PSX)’s largest hedge fund investor is Paul Singer’s Elliott Management as it owns 775,000 shares that are worth $73.9 million.

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