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Tag Archives: shares

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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ExxonMobil loses AAA credit rating as debt increases

ExxonMobil loses AAA credit rating as debt increases

Standard & Poor stripped ExxonMobil of its AAA credit rating due to a plunge in oil prices and weak forecast. The Texas-based company was downgraded to an AA+ credit rating. The ratings agency cited “low commodity prices, high reinvestment requirements, and large dividend payments.” The decision comes as Exxon’s debt has increased substantially. “The company’s debt level has more than ...

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Peabody Energy warns it may file for bankruptcy protection

Peabody Energy warns it may file for bankruptcy protection

NEW YORK (AP) — The largest American coal miner, Peabody Energy, is delaying an interest payment due this week and warned that it may have to file for Chapter 11 bankruptcy protection. Shares of Peabody Energy Corp. plummeted more than 40 percent Wednesday morning. Its shares have already lost half their value in the last three months and 97 percent ...

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Berkshire Hathaway betting big on Phillips 66

Berkshire Hathaway betting big on Phillips 66

Berkshire Hathaway increased its stake in Houston-based Phillips 66. Since the start of February, the company has purchased about 1.7 million Phillips 66 shares for almost $132 million, according to CNBC. This year, the Warren Buffett-led conglomerate has added a total of 12.5 million shares in Phillips 66. Total costs add up to $964 million. Shares were purchased between $77.40 ...

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American Airlines posts record profit in 2015

American Airlines posts record profit for 4Q, all of 2015

FORT WORTH, Texas — American Airlines reported a record profit for the fourth quarter and all of 2015 as a sharp drop in fuel prices more than offset lower revenue. The world’s biggest airline said Friday that its earnings were the highest ever for any carrier. American is poised for another big year: airline officials said they expect to save ...

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Delta posts $980 million 4Q profit on lower fuel prices

Delta posts $980 million 4Q profit on lower fuel prices

DALLAS — Cheaper jet fuel thanks to falling oil prices helped Delta Air Lines earn $980 million in the fourth quarter despite lower revenue than a year ago. Delta shares rose 3.3 percent Tuesday, recovering nearly one-fourth of their losses this month. Company officials said bookings for this spring are ahead of last year’s pace because lower gasoline and heating ...

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ConocoPhillips beats 1Q profit forecasts

HOUSTON — ConocoPhillips (COP) on Thursday reported first-quarter net income of $272 million. The Houston-based company said it had net income of 22 cents per share. Losses, adjusted for pretax gains, were 18 cents per share. The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 19 cents ...

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Whiting Petroleum to offer 35 million shares to reduce debt

Whiting Petroleum

WILLISTON, N.D. – Whiting Petroleum Corp , the largest North Dakota oil producer, said on Monday it would sell 35 million shares of common stock to help cull its $5.63 billion debt load. JPMorgan is running the company’s stock offering. Shares of Whiting fell 9 percent to $34.88 in after-hours trading after the offering was announced. (Reporting by Ernest Scheyder; ...

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CEO of energy company sentenced for securities fraud

SEATTLE — A federal judge has sentenced the CEO of a China-based energy company to five years in prison for securities fraud. Dickson Lee, head of L&L Energy, was also fined $10,000. L&L Energy was involved in the coal business, including mining, washing and wholesale distribution of coal inside China. Federal prosecutors say Lee was arrested last year and later ...

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Exco Resources suspends dividend

Exco Resources Inc. said Monday that it has suspended its cash dividend due to a fall in oil prices, which sent its shares down sharply. The Dallas-based oil and natural gas company said that it will reinvest the money that it would have spent on the dividend into the company. Exco CEO Jeff Benjamin said that the board determined this ...

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