At present, there are a significant amount of tools for Phillips 66 (NYSE:PSX) readers to track, but it is important to take note of a stock’s short sellers. Two pieces of data typically used are: (a) the fraction of a stock’s float that the shorts are presently short selling, in addition to (b) the difference in short interest.
Heightened shorting usually indicates what you’d think: the Street has grown less bullish on the stock. Overselling, though, may have a positive effect on share price, as short-ers may be forced to buy their shares.
Within our database, it is no secret that we pay attention to hedge funds’ interest, but it is eqaully as crucial to combine this information with overall short information. In some high-profile cases, big time investors may share that they’re bearish on a stock, but it isn’t an SEC requirement. Nonetheless, many individual investors might want to avoid heavily shorted stocks with high hedge fund support, while others might desire short-squeeze opportunities. For traders wanting a time-tested piggybacking strategy, discover the details of our premium strategy.
Without further ado, let’s take a peek at the key data swirling around Phillips 66 (NYSE:PSX).
Looking at the latest FINRA data, which is released two times each month, we can realize that Phillips 66 (NYSE:PSX) has a short interest of 1.00% of float. With a float of 619.05M shares, this reveals a short ratio of 1.50.
It’s also important to monitor hedge fund holdings via their 13F forms. Of the funds we track, Warren Buffett’s Berkshire Hathaway had the largest position in Phillips 66 (NYSE:PSX), worth close to $1.9007 billion, accounting for 2.2% of its total 13F portfolio. On Berkshire Hathaway’s heels is East Side Capital (RR Partners), managed by Steven Richman, which held a $245.3 million position; 12.3% of its 13F portfolio is allocated to the company. Remaining hedgies that hold long positions include Phill Gross and Robert Atchinson’s Adage Capital Management, Bill Miller’s Legg Mason Capital Management and D. E. Shaw’s D E Shaw.
Also, insider buying is particularly usable when the company in focus has seen transactions within the past half-year. Over the latest 180-day time period, Phillips 66 (NYSE:PSX) has experienced zero unique insiders buying, and 1 insider sales (see the details of insider trades here).
Let’s also review activity 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). All of these stocks are in the oil & gas refining & marketing industry and their market caps match PSX’s market cap.