Warren Buffett bets big on oil stocks

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The stock shot up 10% Wednesday morning after Buffett’s buy was revealed in a routine regulatory filing on Tuesday evening.

The world clearly has too much oil, but Buffett believes some companies are positioned to benefit from it. if paragraph height is at least 2000, we will insert at middle

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CNNMoney (New York) First published February 17, 2016: 12:15 PM ET

Warren Buffett bets big on oil stocks – Feb.

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buffett oil

Related: Why Saudi Arabia’s oil output freeze won’t boost prices

Buffett plowed nearly $400 million into Kinder Morgan.

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. That oil still has to go through pipelines (like Kinder Morgan’s) and to refiners (like Phillips 66).

Oil prices plummeted from over $100 a barrel in the summer of 2014 to barely $30 a barrel today.

Buffett’s most famous investment advice is “be fearful when others are greedy and greedy when others are fearful.” He appears to be living by that motto when it comes to energy stocks. No one wants to give up market share.

Related: America’s bull market may end soon, but..

The United States and OPEC have kept pumping oil despite the low prices.

Buffett also owns shares of Suncor Energy (SU), a Canadian company that operates in oil sands. else we wait for 1000 pixels.

In addition to Kinder Morgan, Buffett has increased his stake in oil refiner Phillips 66 (PSX). It’s not clear exactly when the Oracle of Omaha bought the stock in the final quarter of 2015, but the company had a terrible December, shedding nearly 37% of its value. Energy company stocks have nosedived along with the price. He has bought over $1 billion more of the stock just since the start of 2016. 17, 2016

At the end of 2015, Buffett purchased a sizable stake in oil pipeline company Kinder Morgan (KMI). That’s on top of the $5 billion he had previously invested in the company. Some smaller drillers are even going bankrupt because they can’t make enough profit with crude oil so low.

Other key Buffett trades in Q4 2015

Sold some AT&T (T, Tech30)stock Bought more Deere & Co (DE)stock Bought more Wells Fargo (WFC) stock

–CNNMoney’s Chris Isidore contributed to this article

Amelia Woodward

Amelia Woodward

Hopefully you will now be less likely to fall for a system that doesn't work. There are systems that can and will bring you rewards but it is imperative that you know what you are buying first.
Amelia Woodward

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