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Warren Buffett's Berkshire Buys Stake in Exxon Mobil

Holly LaFon

Holly LaFon

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Warren Buffett, chairman and CEO of Berkshire Hathaway (BRK.A)(BRK.B), just reported his third quarter portfolio update on Thursday afternoon. He, or one of his recently hired fund managers Todd Combs or Ted Weschler, reported holding a single new stock in the third quarter: Exxon Mobil Corporation. The size of the holding suggests that it was a Buffett purchase.

There are collectively 43 stocks in Berkshire Hathaway’s portfolio, which is valued at $92.04 billion.

Exxon joins a group of other oil and gas stocks in Buffett’s portfolio: National Oilwell Varco Inc. (NOV), Phillips 66 (PSX), Suncor Energy Inc. (SU) and ConocoPhillips (COP). In total, energy stocks comprise 7.9% of its total.

The New Buy

Exxon Mobil Corporation (XOM)

Berkshire reported owning Exxon Mobil in the third quarter in an amended filing, but actually first bought the stock in the second quarter, without filing, and hid the fact until now. In the second quarter it bought 31,244,110 shares. In the third, it added 8,845,261. The average share prices for the two quarters were both $90.

The Exxon Mobil stake has a 3.7% portfolio weight and represents 0.91% of the $407 billion market cap company’s shares outstanding.

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Exxon is the world’s largest publicly traded international oil and gas company.

Its shares were traded at around $93.22 with a P/E ratio of 12.20 and P/S ratio of 0.90. The dividend yield of Exxon Mobil Corporation stocks is 2.70%. Exxon Mobil Corporation had an annual average earnings growth of 7.00% over the past 10 years.

See more Warren Buffett stocks in Berkshire Hathaway’s portfolio here. Also check out the Undervalued Stocks, Top Growth Companies, and High Yield stocks of Warren Buffett.

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