Warren Buffett’s investment company Berkshire Hathaway Inc. (NYSE: BRK.A) added new positions in National Oilwell Varco (NYSE: NOV) and Phillips 66 (NYSE: PSX), suggesting that the billionaire investor is bullish on oil companies.
According to a regulatory filing made by BRK.A earlier this week, the investment company dropped its entire stake in Intel Corporation (NASDAQ: INTC) in the second quarter. BRK.A sold all of its 7.7 million shares in the chipmaker.
INTC shares are up more than 8%, year-to-date.
Meanwhile, Berkshire bought 2.8 million shares of NOV and 27 million shares of PSX, which was spun off from ConocoPhillips (NYSE: COP) earlier this year.
NOV shares are up nearly 13%, year-to-date. PSX shares have gained more than 23% since the company was spun off in May this year.
Buffett’s firm also sold a large portion of its stake in drugmaker Johnson & Johnson (NYSE:JNJ). According to the filing, the invest company now owns only 10.3 million shares of JNJ.
JNJ shares are up nearly 4%, year-to-date.
Berkshire also lowered its stake in consumer goods company Procter & Gamble (NYSE: PG) during the second quarter. The filing showed that BRK.A now owns 59 million shares of PG, down 19% from the previous filing.
PG shares are currently trading around $66.50. Year-to-date, the stock has gained 0.01%.
Berkshire Hathaway raised its stake in Bank of New York Mellon (NYSE: BK), a global financial services company. The investment company now owns 18.7 million shares of BK, up from 5.6 million shares. BRK.A also boosted its stake in digital television entertainment provider DirecTV (NASDAQ: DTV) to 28 million shares from 23 million shares, according to the filing.
BK shares have gained more than 11%, year-to-date. DTV shares, meanwhile, are up more than 20% this year.
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