uploads/2019/05/IH-3.jpg

Did Top Institutional Holders Buy Phillips 66 Stock in Q1?

By

Updated

Institutional holding in Phillips 66

In the previous quarter, Phillips 66 (PSX) stock rose due to better-than-expected earnings and a stronger equity market. Now, we’ll discuss which institutions bought or sold Phillips 66 stock in the first quarter based on the latest 13-F filings.

The institutional holdings in Phillips 66 stock stand at ~73%. The level of the holdings shows the confidence level or sentiment that mature market participants have in the stock. Usually, everything else being equal, higher institutional holdings indicate a favorable opinion about a stock.

Article continues below advertisement

In the first quarter, The Vanguard Group and Barrow, Hanley, Mewhinney & Strauss increased their holdings in Phillips 66. BlackRock Institutional Trust Company and State Street Global Advisors lowered their holdings in Phillips 66 in the first quarter. These are the top four holders of Phillips 66 stock.

Berkshire Hathaway and Fidelity Management and Research Company lowered their holdings in Phillips 66 stock in the first quarter. Geode Capital Management, Wells Fargo Advisors, Mellon Investments, and LSV Asset Management raised their holdings in Phillips 66 shares in the first quarter. So, six of the top ten institutional holders raised their holdings in the stock in the first quarter.

If we consider share changes using filing dates over the past six months, then LSV Asset Management is the largest buyer of Phillips 66 stock. However, Berkshire Hathaway is the largest seller of the stock during the stated period.

Peers’ institutional holdings

The institutional holdings in Phillips 66 are the lowest compared to its peers. The institutional holdings in Marathon Petroleum (MPC), HollyFrontier (HFC), and Valero Energy (VLO) are ~80%, ~90%, and ~81%, respectively.

Advertisement

More From Market Realist