Buffett's company keeps adding to its Phillips 66 investment

The Associated Press

Warren Buffett's company now owns nearly 15 percent of Phillips 66 after buying 642,841 shares of the oil refiner over the past week.

 

OMAHA, Neb. (AP) — Warren Buffett's company now owns nearly 15 percent of Phillips 66 after buying 642,841 shares of the oil refiner over the past week.

Berkshire Hathaway Inc. disclosed the recent purchases in documents filed with the Securities and Exchange Commission on Monday.

Berkshire now owns nearly 76.4 million Phillips 66 shares. Berkshire revealed owning over 10 percent of Phillips 66 stock in August when it disclosed a stake of 55 million shares.

Berkshire has added to its Phillips 66 investment significantly since last year. At the end of 2015, Berkshire owned 61.5 million shares.

Berkshire Hathaway owns about 90 subsidiaries in a variety of industries, including insurance, utilities, railroads, retail and manufacturing. It also holds major investments in Coca-Cola Co., Wells Fargo & Co., IBM and American Express Co.

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