Berkshire Hathaway increases stake in Phillips 66

Berkshire Hathaway bought 759,295 Phillips 66 shares last Wednesday, and now owns 12% of Phillips 66 stock, according to the Associated Press, citing Berkshire Hathaway’s filings with the US Securities and Exchange Commission.

Berkshire Hathaway now owns 62.3 million shares of Phillips 66. In 2013, Berkshire Hathaway began its acquisition of Phillips Specialty Products Inc., a flow improver business, from Phillips 66.

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