Phillips 66 (PSX) Ramps Higher on Buffett Investment
Tweet Send to a Friend
Get Alerts PSX Hot Sheet
Trade PSX Now!
Shares of Phillips 66 (NYSE: PSX) are higher Friday after Warren Buffett disclosed on Bloomberg TV that his Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) now has an investment in the company following the spin-off from ConocoPhillips (NYSE: COP).
Buffett told Bloomberg's "In the Loop With Betty Liu" that Berkshire trimmed its holdings in ConocoPhillips and bought into some of the refining operation.
"They spun it off and actually one of the two [Buffett’s deputy stock pickers Ted Weschler or Todd Combs] bought some of the refining operation," Buffett said.
Shares of Phillips 66 are up 3.7 percent to $34.23.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Buffett told Bloomberg's "In the Loop With Betty Liu" that Berkshire trimmed its holdings in ConocoPhillips and bought into some of the refining operation.
"They spun it off and actually one of the two [Buffett’s deputy stock pickers Ted Weschler or Todd Combs] bought some of the refining operation," Buffett said.
Shares of Phillips 66 are up 3.7 percent to $34.23.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Apple (AAPL) Targeting Gamers; Wants Advanced Game Controller
- UPDATE: Sony (SNE) CEO Says Device & Film Units Better Together - Nikkei
- AMD (AMD) Shares Poised to Double - Barron's
Create E-mail Alert Related Categories
Hedge Funds, Insiders' BlogRelated Entities
Warren Buffett
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
