Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK-A) has gas and plenty of it, by way of a $4.5 billion stake in Phillips 66 (NYSE: PSX), the largest U.S. oil refiner.
That means Nebraska-based Berkshire is now the largest shareholder in Phillips 66, owning more than 58 million shares of the refiner, up from a stake of 7.5 million shares at the end of the first quarter. Berkshire's increased stake in Phillips 66, which was spun off from ConocoPhillips (NYSE: COP) in 2012, comes at a time when lower oil prices are helping refiners sharply outperform the rest of the downtrodden energy sector.
Lower oil prices reduce crack spreads, which work in favor of refiners. Investors can play that theme while following the Oracle of Omaha into shares of Phillips 66 with several ETFs with health weights to the refining giant.
Related Link: United States Just Had ...
/www.benzinga.com/trading-ideas/long-ideas/15/08/5803679/how-you-can-follow-warren-buffett-into-phillips-66-with-these alt=How You Can Follow Warren Buffett Into Phillips 66 (With These Three ETFs)>Full story available on Benzinga.com
More...