In the third quarter of 2013, numerous gurus were trading
Phillips 66 (
), around the same time that Phillips 66 Partners completed its
initial public offering of Phillips 66 Partners LP common units,
trading as PSXP on the NYSE. Phillips 66 will use the master
limited partnership to grow its midstream segment, according to a
company press release. As of Sept. 30, 2013, Phillips 66 had assets
of $51 billion.
Phillips 66's largest guru stakeholder is
's Berkshire Hathaway Inc. (
), holding 27,163,918 shares of PSX or 4.45% of shares outstanding.
In the third quarter, the firm gained 15.7% on a holding that
jumped from an average share price of $32.76 in the second quarter
of 2012 to the third quarter 2013 price of $57.98.
Here's a Phillips 66 update and a look at the very divided gurus in
third quarter trading.
Phillips 66 (
Up 39% over 12 months, Phillips 66 is an energy manufacturing and
logistics company. The company has a market cap of $40.23 billion.
Shares trade with a P/E of 12.00. The dividend yield is 1.98%. The
current share price is around $67.10.
Headquartered in Houston, Phillip 66's business segments include
midstream, chemicals, refining, and marketing and specialties. The
chemicals business is conducted through a 50% interest in Chevron
Phillips Chemical Company LLC.
The company reported third quarter 2013 financial results with
earnings of $535 million, down from last year's same quarter at
$1.6 billion. Earnings of $0.87 per share were posted for the third
quarter. Phillips 66 had $1.9 billion in operating cash flow for
the reporting quarter, and returned $863 million of capital
shareholders through dividends and share repurchases. The company
announced a quarterly dividend increase of 25%. Other third quarter
highlights included the completion of its initial public offering
of Phillips 66 Partners LP, trading as PSXP.
Greg Garland, chairman and CEO of Phillips 66, commented on his
company's quarter in a company press release: "Weaker refining
margins had a significant impact on our earnings. Chemicals posted
strong earnings as a result of solid utilization rates and good
margins...We're reinvesting in our businesses while increasing
shareholder distributions. We continue to capitalize on the rise of
North American energy production, focusing investment in the
rapidly growing midstream and chemicals sectors. This quarter, we
returned more than $800 million of capital to our shareholders
through dividends and share repurchases. Earlier this month, we
completed our initial $2 billion share repurchase program, began
share repurchases under our additional $1 billion program and
announced a 25 percent increase in our dividend."
As of Sept. 30, 2013,
's Berkshire Hathaway Inc. gained 15.7% on 27,163,918 shares at an
average price of $57.98. The firm gained 104.8% on those shares as
a new buy in the second quarter of 2012, buying at an average price
of $32.76 per share.
As of Sept. 30, 2013,
is one of four gurus making a new buy of PSX. He bought 730,900
shares at an average price of $57.98, for a gain of 15.7%.
is one of four gurus selling out PSX in the third quarter. As of
Sept. 30, 2013, he sold out PSX, a stock he had held for only two
quarters. In the third quarter, he sold 147,600 shares at an
average price of $57.98, for a gain of 15.7%. He gained 6.8% on
147,600 shares as a new buy at an average price of $62.83 in the
second quarter of 2013.
In the same quarter, major stakeholder James Barrow reduced his PSX
position by 3.54%, selling 630,517 shares at an average price of
$57.98, for a gain of 15.7%. He also gained 104% on 19,287,699
shares bought at an average price of $32.92 over his trading
history. Selling, he gained 22% on 2,081,974 shares sold at an
average price of $54.85 per share. Barrow's remaining shares are
17,205,725 or 2.82% of shares outstanding.
Find more active guru trading in third quarter of 2013 and recent
Track historical pricing, revenue and net income:
Check out the complete portfolio of Warren Buffett and Berkshire
If you are not yet a Premium Member, try a
7-day Free Trial
Use the GuruFocus Value Screen to find 52-Week Lows and discover
potentially deep value stocks held by billionaire Guru investors.
GuruFocus Real Time Picks reports the stock purchases and sales
that Gurus have made within the prior 2 weeks. The report time lag
can be as short as 2 days after the date of the transaction.
This feature is for Premium Members only.About GuruFocus:
GuruFocus.com tracks the stocks picks and portfolio holdings of the
world's best investors. This value investing site offers stock
screeners and valuation tools. And publishes daily articles
tracking the latest moves of the world's best investors. GuruFocus
also provides promising stock ideas in 3 monthly newsletters sent