Tags: warren buffett | berkshire | phillips 66 | invest

Buffett Sees Phillips 66 as a Buy at Below $82.75 a Share

Image: Buffett Sees Phillips 66 as a Buy at Below $82.75 a Share
Warren Buffett (AP)

Tuesday, 12 Jan 2016 10:12 AM

Warren Buffett’s Berkshire Hathaway Inc., which disclosed a $4.5 billion stake in oil refiner Phillips 66 in August and increased its position the next month, resumed additions to the holding after the stock pared gains.

Berkshire halted purchases for months, as the shares climbed to more than $90. Last week, the billionaire added stock for less than $80 apiece.

The most Berkshire paid in recent months was $82.74 on Sept 9. Additional purchases brought down the average price for that day.

The biggest additions to Berkshire’s portfolio in the third quarter were previously disclosed. The company said in August that it had boosted its holding in oil refiner Phillips 66 above 10 percent.


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Warren Buffett's Berkshire Hathaway Inc., which disclosed a $4.5 billion stake in oil refiner Phillips 66 in August and increased its position the next month, resumed additions to the holding after the stock pared gains.
warren buffett, berkshire, phillips 66, invest
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2016-12-12
Tuesday, 12 Jan 2016 10:12 AM
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