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Which Institutions Are Buying Phillips 66 Stock?

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Mar. 22 2018, Updated 9:01 a.m. ET

The series so far

We began this series with a review of Phillips 66 (PSX) stock performance and its moving averages. PSX stock has fallen in 1Q18, likely due to the decline in the USGC (United Geological Survey) WTI (West Texas Intermediate) 3-2-1 crack. Also, the gap between PSX’s 50-day moving average and 200-day moving average has narrowed in the current quarter. We also estimated PSX’s 14-day price forecast range for the period ending March 30, 2018, based on its implied volatility. We also reviewed analysts’ expectations for the company’s dividend payment for the next quarter. Now, we’ll look at institutional ownership in PSX.

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Institutional ownership in PSX

Institutional ownership in PSX currently stands at ~65% of its outstanding shares. The top four institutions with the highest holdings in Phillips 66 are Berkshire Hathaway, the Vanguard Group, State Street Global Advisors, and BlackRock Institutional Trust. According to data for the past six months, only Berkshire Hathaway has partly sold its holdings in PSX. The remaining institutions have increased their total holdings in Phillips 66 in the past six months.

Berkshire Hathaway has been the highest seller of PSX stock in the past six months. The second-highest seller is JP Morgan Asset Management. Fidelity Management & Research and Epoch Investment Partners have been the two biggest buyers of Phillips 66 stock in the past six months.

Peers’ institutional ownerships

Institutional ownerships in Marathon Petroleum (MPC), Valero Energy (VLO), and Andeavor (ANDV) are higher than PSX’s. Currently, institutional ownerships in MPC, VLO, and ANDV are ~82%, ~83%, and ~82%, respectively.

In the next part, we’ll evaluate the changes in short interest in PSX. Then we’ll compare PSX’s forward valuation with its peers.

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