Warren Buffett Continues to Sell This Oil Stock. Should You Join Him? [The Motley Fool]
Berkshire Hathaway Inc. New (BRK.B)
Last berkshire hathaway inc. new earnings: 11/2 07:00 am
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Source: The Motley Fool
Buffett’s Berkshire Hathaway continues to slash its stake in refining giant Phillips 66. Warren Buffett firmly believes that one of the keys to success in investing is to hold stocks for the long term. He even went so far as to state in the Berkshire Hathaway ( NYSE:BRK-A ) ( NYSE:BRK-B ) 1988 shareholder letter that his favorite holding period is forever. That's why when Buffett does sell, investors take notice. One stock that he has been selling off this year is oil refiner Phillips 66 ( NYSE:PSX ) . Because of that, investors who hold the stock (myself included) are likely wondering if they should join him and begin unloading their position. Image source: Getty Images. A motivated seller Berkshire Hathaway started selling off its shares in Phillips 66 this past February when the oil refiner entered into a share repurchase agreement with Buffett's company. Under the terms of that deal , Phillips 66 bought back 35 million of its shares for $93.725
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BRK.B
Earnings
- 2/26/24 - Beat
BRK.B
Sec Filings
- 4/22/24 - Form 424B5
- 4/18/24 - Form FWP
- 4/10/24 - Form PX14A6G
- BRK.B's page on the SEC website