Phillips 66 Sees Shifts in Institutional Investor Holdings

Mcdonald Partners LLC recently made significant changes to its holdings in Phillips 66 (NYSE:PSX). The company lessened its stake by selling 27,025 shares during the second quarter. As a result, Mcdonald Partners LLC now owns 18,065 shares of the oil and gas company's stock, valued at $3,054,000 as of its most recent filing with the SEC.

This move is part of a broader trend in which institutional investors are adjusting their positions in Phillips 66. NFSG Corp, for example, boosted its holdings by 105.6% in the first quarter and now owns 146 shares valued at $27,000. Axiom Investment Management LLC also purchased a new position in shares of Phillips 66 in the first quarter worth approximately $27,000.

Despite these changes, Phillips 66's stock remains popular among investors. Shares opened at $232.55 on Friday and have a market capitalization of $92.79 billion. The company has a P/E ratio of 13.25 and a beta of 0.68.