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Did Institutions Cut Their Stakes in MPC, VLO, PSX, and HFC?

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Jul. 2 2019, Updated 12:15 p.m. ET

Variations in institutional ownership in refining stocks

Institutional ownership in Valero Energy (VLO), Marathon Petroleum (MPC), Phillips 66 (PSX), and HollyFrontier (HFC) stands above 70%. Institutional ownership is the highest in HollyFrontier at ~90%. The lowest institutional ownership is in Phillips 66 at ~72%. Institutional ownership in Marathon Petroleum and Valero stands at ~80% and ~81%, respectively, according to the latest filings.

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Institutional ownership in MPC

Institutions with the highest holdings in Marathon Petroleum include the Vanguard Group, State Street Global Advisors, BlackRock Institutional Trust Company, and J.P. Morgan Asset Management. In the first quarter, Vanguard raised its holdings in Marathon Petroleum stock. Others reduced their stakes in the stock. These institutions are the top four holders of MPC. Five of the top nine holders in the stock reduced their holdings in the first quarter.

If we review the past six months’ worth of activity, we’ll find that Third Point and Credit Suisse Securities USA have been the largest buyers of MPC stock. Boston Partners and AQR Capital Management have been the largest sellers of the stock in the same period.

Institutional ownership in VLO

Institutions with the highest ownership in Valero include the Vanguard Group, BlackRock Institutional Trust Company, State Street Global Advisors, and Fidelity Management and Research Company. In the first quarter, only State Street reduced its holdings in the stock. Seven of the top ten holders of the stock raised their holdings in the first quarter.

If we review the past six months’ worth of activity, we’ll find that Barrow, Hanley, Mewhinney & Strauss has been the largest buyer of VLO, and AQR Capital Management has been the largest seller of VLO.

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Institutional ownership in PSX

Institutions with the highest holdings in Phillips 66 include the Vanguard Group, State Street Global Advisors, BlackRock Institutional Trust Company, and Barrow, Hanley, Mewhinney & Strauss. In the first quarter, State Street and BlackRock reduced their holdings in PSX. If we review the past six months’ worth of activity, we’ll find that LSV Asset Management has been the largest buyer of PSX, and Berkshire Hathaway has been the largest seller of the stock.

Institutional ownership in HFC

Institutions with the highest holdings in HollyFrontier include the Vanguard Group, Turtle Creek Management, AQR Capital Management, and BlackRock Institutional Trust Company. In the first quarter, only AQR raised its holdings in HollyFrontier stock. If we review the past six months’ worth of activity, we’ll find that AQR has been the largest buyer of HFC, while Vanguard has been the largest seller of the stock.

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