“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.
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.
P/E (TTM): 8.92
EPS (TTM): 8.57
“It is not enough to be busy; so are the ants. The question is: What are we busy about?” – Henry David Thoreau
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