Buffett Buys More Phillips 66 (ticker: PSX) as Media Squeal with Ongoing Market Movements

“Dow closes down triple digits as stocks end one of worst first weeks ever” (CNBC)

“Markets S&P 500 off to worst-ever start to year” (USA Today)

“US stock markets open with worst performance since 2008” (The Guardian)

and so on.

Meanwhile (Gurufocus/Forbes)

Buffett’s Berkshire added 35,781 shares of the company Jan. 4 at weighted average price of $79.47, and 12,491 shares Jan. 5 at a weighted average price of $80.18.

The purchases increased Buffett’s position a modest 0.08% to 61,535,198 shares, from 61,486,926 reported at the end of the third quarter. This gives him a stake worth slightly less than 12% of the company.

The company’s strategy continued to be to grow its higher-valued midstream and chemicals businesses, enhance refining returns and return capital to shareholders. It gave $673 million to shareholders in the third quarter, repurchasing 4.7 million shares for $373 million and paying out $300 million in dividends.

Financials (Reuters)
P/E (TTM): 8.92
EPS (TTM): 8.57
ROI: 12.70
ROE: 21.00

“It is not enough to be busy; so are the ants. The question is: What are we busy about?” – Henry David Thoreau

Reference

http://www.forbes.com/sites/gurufocus/2016/01/07/warren-buffett-boosts-largest-energy-position-phillips-66/

If you are interested in this similar approach to investing and would seek updates or share ideas, I wish to invite you to this Facebook group SEEKING VALUE (https://www.facebook.com/groups/SeekingValue/?ref=bookmarks)

Happy investing.

Mark Y.

-End-

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