Phillips 66 (PSX) Ramps Higher on Buffett Investment
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Get Alerts PSX Hot Sheet
Price: $271.62 +0.68%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
EPS Growth %: +335.3%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
EPS Growth %: +335.3%
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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.
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.
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