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Berkshire Hathaway Inc Buys 1,741,210 Shares of Phillips 66 (PSX …

Berkshire Hathaway Inc Buys 1,741,210 Shares Of Phillips 66 (PSX ...Phillips 66 (NYSE:PSX) major shareholder Berkshire Hathaway Inc purchased 1,741,210 shares of the business s stock in a transaction dated Friday, January 8th. The stock was bought at an average price of $76.01 per share, for a total transaction of $132,349,372.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website[1]. Major shareholders that own 10% or more of a company s shares are required to disclose their sales and purchases with the SEC.

Berkshire Hathaway Inc also recently made the following trade(s):

  • On Monday, January 11th, Berkshire Hathaway Inc purchased 902,442 shares of Phillips 66 stock. The stock was bought at an average price of $75.96 per share, for a total transaction of $68,549,494.32.
  • On Thursday, January 7th, Berkshire Hathaway Inc purchased 1,645,887 shares of Phillips 66 stock. The stock was bought at an average price of $76.63 per share, for a total transaction of $126,124,320.81.
  • On Wednesday, January 6th, Berkshire Hathaway Inc purchased 759,295 shares of Phillips 66 stock. The stock was bought at an average price of $78.34 per share, for a total transaction of $59,483,170.30.
  • On Tuesday, January 5th, Berkshire Hathaway Inc acquired 12,491 shares of Phillips 66 stock. The stock was acquired at an average cost of $80.18 per share, with a total value of $1,001,528.38.
  • On Monday, January 4th, Berkshire Hathaway Inc acquired 35,781 shares of Phillips 66 stock. The stock was acquired at an average cost of $79.47 per share, with a total value of $2,843,516.07.

Today s Trading

Phillips 66 (NYSE:PSX[2]) opened at 75.25 on Thursday. The firm has a market cap of $40.14 billion and a PE ratio of 8.79. The stock has a 50 day moving average price of $83.54 and a 200 day moving average price of $82.52. Phillips 66 has a one year low of $58.68 and a one year high of $94.12.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 30th. The company reported $3.02 earnings per share for the quarter, topping analysts consensus estimates of $2.24 by $0.78. During the same period in the previous year, the business posted $2.02 EPS. Equities research analysts expect that Phillips 66 will post $7.69 EPS for the current year.

SEC Filings

A number of institutional investors have bought and sold shares of PSX. Gierl Augustine Investment Management acquired a new position in Phillips 66 during the fourth quarter valued at approximately $63,000. Kistler-Tiffany Companies raised its position in Phillips 66 by 3.1% in the fourth quarter. Kistler-Tiffany Companies now owns 1,445 shares of the company s stock valued at $118,000 after buying an additional 44 shares during the period. Amarillo National Bank acquired a new position in Phillips 66 during the fourth quarter valued at approximately $203,000. Union Bankshares raised its position in Phillips 66 by 1.1% in the fourth quarter. Union Bankshares now owns 4,227 shares of the company s stock valued at $346,000 after buying an additional 47 shares during the period. Finally, Detwiler Fenton Investment Management acquired a new position in Phillips 66 during the fourth quarter valued at approximately $357,000.

Analyst Ratings

A number of research firms have recently weighed in on PSX. Citigroup Inc. began coverage on Phillips 66 in a research report on Thursday, November 26th. They issued a buy rating and a $40.00 price objective for the company. Vetr[3] cut Phillips 66 from a buy rating to a sell rating and set a $86.62 price objective for the company. in a research report on Monday, November 30th. Zacks Investment Research[4] cut Phillips 66 from a buy rating to a hold rating in a research report on Wednesday, November 4th. Deutsche Bank raised their price objective on Phillips 66 from $100.00 to $102.00 and gave the stock a hold rating in a research report on Tuesday, November 10th. Finally, Goldman Sachs cut Phillips 66 from a neutral rating to a sell rating and lowered their price objective for the stock from $92.00 to $85.00 in a research report on Monday, November 23rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. Phillips 66 has a consensus rating of Hold and a consensus price target of $89.48.

Phillips 66 Company Profile

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing and specialties businesses. The Company operates its business through four segments: midstream, chemicals, refining and marketing and specialties. It gathers, processes, transports and markets natural gas, and transports, fractionates and markets natural gas liquids (NYSE:PSX[5]) in the United States. The Chemical segment manufactures and markets petrochemicals and plastics. The Chemicals segment consists of its 50% equity investment in Chevron Phillips Chemical Company LLC (CPChem). The refining segment buys, sells and refines crude oil and other feedstocks into petroleum products (such as gasolines, distillates and aviation fuels) at 14 refineries, mainly in the United States and Europe. The Marketing and Specialties segment purchases for resale and markets refined petroleum products (such as gasolines, distillates and aviation fuels), mainly in the United States and Europe.

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References

  1. ^ the SEC website (www.sec.gov)
  2. ^ NYSE:PSX (www.marketbeat.com)
  3. ^ Vetr (www.vetr.com)
  4. ^ Zacks Investment Research (www.zacks.com)
  5. ^ NYSE:PSX (www.marketbeat.com)
  6. ^ MarketBeat.com’s FREE daily email newsletter (zolmax.com)



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