After three more days of buying, Warren Buffett's Phillips 66 (PSX) shopping spree is nearing a billion dollars for the year.
In a new filing, Buffett's Berkshire Hathaway (BRK-A)
reveals that on Monday, Tuesday and Wednesday of this week the company
purchased another 1.7 million shares of the energy giant for almost $132
million.
Over 15 days of buying since Jan. 4, Berkshire has spent $964 million to add 12.5 million shares to its Phillips 66 stake.
The new purchases were made between $77.40 and $78.53. Average price
paid overall for the January and February buys is $77.13.
At
midday Thursday, PSX was up 1.8 percent to $80.56, giving Berkshire a
very short-term profit on paper from the new shares of almost $43
million.
Berkshire's 74 million-share stake is now worth $5.9 billion and represents around 14 percent of the company's outstanding shares.
By: Alex Crippen.
Review:
Emerging Market Formulations & Research Unit, Flagship Records.
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