Warren Buffett Sold Phillips 66 -- Here's Why I'm Holding (and May Buy More)
This quarter's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) 13-F filing with the Securities and Exchange Commission -- the document that discloses the company's massive stock portfolio holdings at the end of the prior quarter -- surprised a lot of investors. We already knew that Buffett sold Berkshire's stake in the major airlines, but we didn't know what the Oracle of Omaha bagged with his elephant gun. Turns out, not much of anything: Berkshire was by far a net seller in the quarter.
One of the stocks that Buffett unloaded in the quarter was Phillips 66 (NYSE: PSX). Not only is Phillips 66 a personal holding, but it's also the oil stock I've touted the most as being worth buying in the coronavirus crash. And despite Buffett's decision to move on from my favorite oil stock, I'm not changing my view. To the contrary: It's still on my radar as a company I'm interested in buying more of.
Image source: Getty Images.
Source Fool.com
