Home / Tag Archives: shares

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 ...

Read More »

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 ...

Read More »

US stocks end a down week on an up note

FILE - This Jan. 4, 2010, file photo, shows an historic marker on Wall Street in New York. Worries over the global economy weighed heavily on stock markets Monday, Feb. 8, 2016, with Europe bearing the brunt of the selling. And oil prices fell further, with the benchmark New York rate below $30 a barrel again. (AP Photo/Mark Lennihan, File)

U.S. stocks ended a down week on an up note, finishing sharply higher on the strength of energy and financial shares. It was the market’s first up day since late last week. Despite the rebound Friday, the major indexes ended the week down about 1 percent. Oil jumped 12 percent, helping lift energy company shares. Banks shares soared, led by ...

Read More »

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 Buffet-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 ...

Read More »

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 ...

Read More »

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 ...

Read More »

Exco Resources suspends dividend

oil barrels

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 ...

Read More »

Oil co. shares fall on oversupply, weak demand

pump jack

Energy industry shares are falling as oversupply and weak demand drag down the price of oil. Oil prices have been falling for some time, but new industry reports suggest the situation could worsen. OPEC slashed its estimate of how much crude oil it will need to produce next year. And the U.S. Energy Department recently lowered its forecast for gasoline ...

Read More »