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Buffett’s company keeps adding to its Phillips 66 investment

Warren Buffett, Phillips 66

OMAHA, Neb. (AP) — Warren Buffett’s company now owns nearly 15 percent of Phillips 66 after buying 642,841 shares of the oil refiner over the past week. Berkshire Hathaway Inc. disclosed the recent purchases in documents filed with the Securities and Exchange Commission on Monday. Berkshire now owns nearly 76.4 million Phillips 66 shares. Berkshire revealed owning over 10 percent ...

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Valero Energy 1Q adjusted profit misses analysts’ estimates

Valero Energy 1Q adjusted profit misses analysts' estimates

SAN ANTONIO (AP) — Valero Energy’s first-quarter adjusted profit missed analysts’ estimates, as the oil refiner contended with lower product margins. Shares fell more than 2 percent before the market open on Tuesday. For the three months ended March 31, Valero Energy Corp. earned $495 million, or $1.05 per share. A year ago the San Antonio-based company earned $964 million, ...

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Valero Energy posts better-than-expected profit

Valero Energy posts better-than-expected profit

Valero Energy reported higher-than-expected earnings on Thursday. The San Antonio-based company earned $862 million in profit during the fourth quarter 2015. The San Antonio oil refiner reported earnings of $1.79 per share, beating the average estimate of $1.41 per share. High crack spreads, the difference between crude oil and refined petroleum products, have meant strong profits for oil refiners despite ...

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Buffett’s Berkshire takes $4.48 billion stake in Phillips 66

(Reuters) – Warren Buffett’s Berkshire Hathaway Inc <BRKa.N> disclosed a $4.48 billion stake in oil refiner Phillips 66 <PSX.N>, rebuilding a bet it had made in the energy industry before oil prices fell. The 57.98 million-share, or roughly 10.8 percent, stake was revealed in a Friday night filing with the U.S. Securities and Exchange Commission. Phillips 66 shares closed Friday ...

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