Mr. Warren Buffett has bought three million shares from an Oil company. Berkshire’s Hathaway now owns 15% of Phillips 66. The company bought 3.2 million dollars more in shares. Altogether the company has 79 million shares. It is one of Berkshire’s biggest holding. Which is worth 6.1 billion dollars share prices. Berkshire’s Hathaway loves Phillips 66 Oil company. It is the greatest cash flow for their business. Berkshire’s Hathaway loves and pays for crude oil.
Phillips 66 is a stand-alone company since 2012. The company repurchased about 100 million of shares and about 17% share are outstanding. Berkshire’s Hathaway received about 200 million in dividends from Phillips 66 at the end of the year. Mr. Warren Buffett oil company Phillip 66 went up to 10% on Wednesday morning. Oil prices were $100 dollars per barrel in 2014 but now it is $30 per barrel.
Mr. Warren Buffett has nearly $400 million dollars in Kinder Morgan. The company cut off about 37% of its value. Some people say that the crude oil went from black gold to black mold in just a couple of years. The company Phillips 66 has a headquarters located in Houston, Texas. Berkshire’s Hathaway holds Exxon Mobil stocks in the company.
Mr. Warren Buffett found out that Berkshire owes $4.5 million dollars since last August. Berkshire spends $450 million dollars on Phillips 66 oil company alone. Mr. Buffett now owns 13% of Phillips 66 which is $5.3 billion dollars. Berkshire’s Hathaway bought 2.5 million shares in the last three days and now $200 million at an average of $78 per shares.
The United States Oil Funds which has a future price for petroleum. The oil went to 80% on an annual basis this year and many investors wanted to jump in with the United States Oil companies. The oil companies have a great future for stocks.