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Down $42 million – T. Boone Pickens Slashes Energy Companies
Posted by: Sally Jones (IP Logged)
Date: November 23, 2013 05:29PM

The updated portfolio of T Boone Pickens, BP Capital, lists 17stocks, four of them new, with a total value of $60 million, down from $102 million last quarter. His quarter-over-quarter turnover is 36%. Picking up speed from his second quarter of unloading energy holdings, Pickens did another major house cleaning on his energy portfolio, selling or reducing around 30 companies, in the third quarter.

Here are the highest-impact decreases made by T Boone Pickens in the third quarter of 2013, starting with his highest-impact sell of Apache Corporation. Apache reported financial results for the third quarter of 2013 with $300 million in earnings, up from $161 million in the same quarter a year ago. For the third quarter of 2013, earnings were $0.75 per diluted common share. The company reported adjusted earnings of $932 million for the third quarter, translating to earnings of $2.32 per share. For the reporting quarter, Apache lists net cash of $2 billion.

Apache Corporation (APA): Sold Out

Impact to Portfolio: -9.4%

Up 23% over 12 months, Apache Corporation has a market cap of $37.7 billion; APA shares trade with a P/E ratio of 14.00. The dividend yield is 0.82%.

Apache Corporation is an independent energy company that explores, develops and produces natural gas, crude oil and natural gas liquids.

Guru Action: As of Sept. 30, 2013, Pickens sold out his holding, selling 114,440 shares at an average price of $83.07, for a gain of 13.7%.

The current share price is $94.42 with a change from average up 14%.

In eleven quarters of mixed results, his highest gain was 19.7% on 124,829 shares bought at an average price of $78.91 per share. The holding’s lowest point was a loss of 23.2% on 4,584 shares sold at an average price of $122.91 per share.

Check out the guru and insider action with APA.

Tracking share price, revenue and net income:



Goodrich Petroleum Co. (GDP): Reduced

Impact to Portfolio: -6.91%

Up 126% over 12 months, Goodrich Petroleum Co. has a market cap of $872.58 million; GDP shares trade with a P/B ratio of 3.40. The company does not pay a dividend.

Goodrich Petroleum Corporation operates as an independent oil and gas company engaged in the exploration, exploitation, development and production of oil and natural gas properties in East Texas and Northwest Louisiana.

Guru Action: As of Sept. 30, 2013, Pickens reduced his position by 92.08%, selling 550,000 shares at an average price of $20.12 for a loss of 0.7%.

The current share price is $19.98 with a change from average down 1%.

He has averaged a gain of 52% on 748,800 shares bought at an average price of $13.11 per share. On shares sold, he averaged a gain of 11% on 701,488 shares sold at an average price of $18.04 per share.

His current shares stand at 47,312.

Here are more gurus and insiders trading GDP.

Tracking share price, revenue and net income:


Whiting Petroleum Co. (WLL): Sold Out

Impact to Portfolio: -6.8%

Up 44% over 12 months, Whiting Petroleum Co. has a market cap of $7.48 billion; WLL shares trade with a P/E ratio of 14.70. The company does not pay a dividend.

Guru Action: As of Sept. 30, 2013, Pickens sold out his holding, unloading 149,440 shares at an average price of $51.63, for a gain of 22.1%, the holding’s lowest point.

The current share price is $63.06 with a change from average up 22%.

In five gaining quarters, his highest gain was 43.4%, made on selling 100,714 shares at an average price of $43.99 per share.

Here’s more guru and insider action on WLL.

Tracking share price, revenue and net income:



Suncor Energy Inc. (SU): Sold Out

Impact to Portfolio: -6.5%

Up 7% over 12 months, Suncor Energy Inc. has a market cap of $53.63 billion; SU shares trade with a P/E ratio of 19.70. The dividend yield is 1.78%.

Guru Action: As of Sept. 30, 2013, Pickens sold out his holding, selling 225,000 shares at an average price of $33.26 for a gain of 8.3%.

The current share price is $36.02 with a change from average up 8%.

In a five-year history of mostly gains and only three losing quarters, his highest gain was 68.7% made on 200,000 shares bought at an average price of $21.35 per share, in the first quarter of 2009.

The holding’s lowest point was a loss of 41.1% made on a new buy of 72,395 shares at an average price of $61.11 per share, in the second quarter of 2008.

Here’s more guru trading and insider selling.

Tracking share price, revenue and net income:



Read more about T Boone Pickens in the third quarter of 2013.



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Guru Discussed: T. Boone Pickens: Current Portfolio, Stock Picks
Stocks Discussed: APA, GDP, WLL, SU,
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