Warren Buffett Increases Ownership of Phillips 66

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More than 15 percent of the stock of Phillips 66 is now owned by Warren Buffett’s company after it purchased another 414,065 shares in recent days. Berkshire Hathaway, based in Omaha, Nebraska now owns about 79.5 million shares of the company that was founded in Bartlesville. The 79.5 million is 15.2 percent of the Houston-based company’s stock, according to a filing Berkshire Hathaway made with the Securities and Exchange Commission.

The purchase is only the latest by Berkshire Hathaway since it began a buying spree of Phillips 66 stock in 2012. Initially, Berkshire traded about $1.4 billion of its Phillips 66 stock for one of the refiner’s additive businesses in late 2013.