> Warren Buffett Blog: Buying more Phillips 66 shares

Monday, September 19, 2016

Buying more Phillips 66 shares


Warren Buffett's Berkshire Hathaway (BRKB) is still adding to his investments of Phillips 66 (PSX) shares. On the most recent filing with the US Securities and Exchange Commission, Berkshire Hathaway indicated that it had added some 1.01 million shares of Phillips 66.

The shares of the oil refiner were priced between 77.0824 and 77.3906.

Berkshire has been steadily building its Phillips 66 stake, adding to his now more-than-15% stake through much of this year.

Despite the turmoil that the energy industry is facing, Mr. Buffett keeps his hopes stacked to Phillips 66. In 2015, Mr. Buffett ended with a 11.8% stake in Phillips 66. The stake was again increased in May when Berkshire Hathaway added another 18 million shares amounting to $1.39 billion. The latest stake was bought at $77.86 per share making the total investment of around $6 million.