T Boone Pickens Buys Halliburton Company, Consol Energy Inc., Baker Hughes Inc., Sells Canadian Natural Resources Ltd., Cabot Oil & Gas Corp., Devon Energy Corp.

T Boone Pickens Q1 Portfolio: Buys BHI, CNX, DWSN, HAL

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May 19, 2010
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Oilman, billionaire investor T Boone Pickens reported his first quarter portfolio. These are the details of buys and sells. T Boone Pickens buys Halliburton Company, Dawson Geophysical Company, Baker Hughes Inc., Consol Energy Inc., sells Canadian Natural Resources Ltd., Cabot Oil & Gas Corp., Devon Energy Corp., Fluor Corp., Forest Oil Corp., Foster Wheeler Ag., Gastar Exploration Ltd, Questar Corp. during the 3-months ended 03/31/2010, according to the most recent filings of his investment company, BP Capital. T Boone Pickens owns 15 stocks with a total value of $163 million.

For the details of T Boone Pickens's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=T+Boone+Pickens

This is the sector weightings of his portfolio:

Oil & Gas

94.4%

Basic Materials

1.3%



These are the top 5 holdings of T Boone Pickens

  1. Transocean Inc. (RIG) - 345,980 shares, 18.36% of the total portfolio.
  2. McMoRan Exploration Co. (MMR) - 1,186,425 shares, 10.66% of the total portfolio. Shares added by 20.28%
  3. WEATHERFORD INTERNATIONAL, LTD. (SWITZERLAND) (WFT) - 903,781 shares, 8.81% of the total portfolio. Shares added by 46.06%
  4. SANDRIDGE ENERGY INC (SD) - 1,799,860 shares, 8.52% of the total portfolio. Shares added by 14.8%
  5. Smith International Inc. (SII) - 312,285 shares, 8.22% of the total portfolio. Shares added by 58.29%


Added: Smith International Inc. (SII)

T Boone Pickens added to his holdings in Smith International Inc. by 58.29%. His purchase prices were between $27.17 and $45.13, with an estimated average price of $35.91. The impact to his portfolio due to this purchase was 3.03%. His holdings were 312,285 shares as of 03/31/2010.

Smith International, Inc. is a worldwide supplier of premium products and services to the oil and gas exploration and production industry, the petrochemical industry and other industrial markets. Smith International Inc. has a market cap of $10.65 billion; its shares were traded at around $42.88 with a P/E ratio of 85.7 and P/S ratio of 1.3. The dividend yield of Smith International Inc. stocks is 1.1%. Smith International Inc. had an annual average earning growth of 19.4% over the past 10 years. GuruFocus rated Smith International Inc. the business predictability rank of 3.5-star.

Added: Weatherford International, Ltd. (switzerland) (WFT, Financial)

T Boone Pickens added to his holdings in Weatherford International, Ltd. (switzerland) by 46.06%. His purchase prices were between $14.97 and $20.47, with an estimated average price of $16.98. The impact to his portfolio due to this purchase was 2.78%. His holdings were 903,781 shares as of 03/31/2010.

Weatherford International is one of the world's providers ofequipment and services used for the drilling, completion and production of oil and natural gas wells. Weatherford International, Ltd. (switzerland) has a market cap of $11.25 billion; its shares were traded at around $15.24 with a P/E ratio of 49.1 and P/S ratio of 1.3. Weatherford International, Ltd. (switzerland) had an annual average earning growth of 18.5% over the past 10 years. GuruFocus rated Weatherford International, Ltd. (switzerland) the business predictability rank of 3.5-star.

Added: Mcmoran Exploration Co. (MMR, Financial)

T Boone Pickens added to his holdings in Mcmoran Exploration Co. by 20.28%. His purchase prices were between $8.02 and $18.55, with an estimated average price of $15.19. The impact to his portfolio due to this purchase was 1.8%. His holdings were 1,186,425 shares as of 03/31/2010.

McMoRan Exploration Co. is engaged in the exploration, development and production of oil and gas offshore in the Gulf of Mexico and onshore in the Gulf Coast region, and in the mining, purchasing, transporting,terminaling, processing and marketing of sulfur. Mcmoran Exploration Co. has a market cap of $974.5 million; its shares were traded at around $10.55 with and P/S ratio of 2.3.

Added: Anadarko Petroleum Corp. (APC, Financial)

T Boone Pickens added to his holdings in Anadarko Petroleum Corp. by 25.83%. His purchase prices were between $62.33 and $73.14, with an estimated average price of $67.79. The impact to his portfolio due to this purchase was 1.23%. His holdings were 133,956 shares as of 03/31/2010.

Anadarko Petroleum Corporation is one of the world's largest independentoil and gas exploration and production companies. Anadarko Petroleum Corp. has a market cap of $29.07 billion; its shares were traded at around $58.04 with a P/E ratio of 161.2 and P/S ratio of 3.2. The dividend yield of Anadarko Petroleum Corp. stocks is 0.6%. Anadarko Petroleum Corp. had an annual average earning growth of 12.8% over the past 10 years. GuruFocus rated Anadarko Petroleum Corp. the business predictability rank of 2-star.

Added: Sandridge Energy Inc (SD, Financial)

T Boone Pickens added to his holdings in Sandridge Energy Inc by 14.8%. His purchase prices were between $7.31 and $10.84, with an estimated average price of $8.63. The impact to his portfolio due to this purchase was 1.1%. His holdings were 1,799,860 shares as of 03/31/2010.

SandRidge Energy, Inc. is an oil and natural gas company headquartered in Oklahoma City with its principal focus on exploration and production. Sandridge Energy Inc has a market cap of $1.43 billion; its shares were traded at around $6.8 with a P/E ratio of 12.6 and P/S ratio of 2.4.

Added: Suncor Energy Inc. (SU, Financial)

T Boone Pickens added to his holdings in Suncor Energy Inc. by 16.87%. His purchase prices were between $28.82 and $38.01, with an estimated average price of $32.07. The impact to his portfolio due to this purchase was 1.08%. His holdings were 373,037 shares as of 03/31/2010.

SUNCOR ENERGY is a world leader in mining and extracting crude oil from the vast oil sands deposits of northern Alberta. Suncor Energy Inc. has a market cap of $47.22 billion; its shares were traded at around $30.25 with a P/E ratio of 46.6 and P/S ratio of 2. The dividend yield of Suncor Energy Inc. stocks is 1.3%. Suncor Energy Inc. had an annual average earning growth of 17.5% over the past 10 years. GuruFocus rated Suncor Energy Inc. the business predictability rank of 2-star.

New Purchase: Halliburton Company (HAL, Financial)

T Boone Pickens initiated holdings in Halliburton Company. His purchase prices were between $28.1 and $34.6, with an estimated average price of $31.07. The impact to his portfolio due to this purchase was 4.96%. His holdings were 268,000 shares as of 03/31/2010.

Halliburton Company provides a variety of services, equipment, maintenance, and engineering and construction to energy, industrial and governmental customers. Halliburton Company has a market cap of $25.02 billion; its shares were traded at around $27.64 with a P/E ratio of 23.6 and P/S ratio of 1.7. The dividend yield of Halliburton Company stocks is 1.3%.

New Purchase: Dawson Geophysical Company (DWSN, Financial)

T Boone Pickens initiated holdings in Dawson Geophysical Company. His purchase prices were between $21.69 and $31.23, with an estimated average price of $26.45. The impact to his portfolio due to this purchase was 4.85%. His holdings were 270,000 shares as of 03/31/2010.

Dawson Geophysical Company acquires and processes 3-D seismic data used in analyzing subsurface geologic conditions for the potential of oil and natural gas accumulation. Dawson Geophysical Company has a market cap of $187.7 million; its shares were traded at around $24.01 with and P/S ratio of 0.8.

New Purchase: Baker Hughes Inc. (BHI, Financial)

T Boone Pickens initiated holdings in Baker Hughes Inc.. His purchase prices were between $40.48 and $51.86, with an estimated average price of $47.09. The impact to his portfolio due to this purchase was 3.4%. His holdings were 118,000 shares as of 03/31/2010.

Baker Hughes Inc. is engaged in the oilfield and process industries. Baker Hughes Inc. has a market cap of $13.88 billion; its shares were traded at around $44.5 with a P/E ratio of 29.1 and P/S ratio of 1.5. The dividend yield of Baker Hughes Inc. stocks is 1.3%. Baker Hughes Inc. had an annual average earning growth of 16.3% over the past 10 years. GuruFocus rated Baker Hughes Inc. the business predictability rank of 2.5-star.

New Purchase: Consol Energy Inc. (CNX, Financial)

T Boone Pickens initiated holdings in Consol Energy Inc.. His purchase prices were between $42.28 and $56.34, with an estimated average price of $50.01. The impact to his portfolio due to this purchase was 1.31%. His holdings were 50,000 shares as of 03/31/2010.

CONSOL Energy Inc. is the largest producer of high-Btu bituminous coal in the United States, and the largest exporter of U. Consol Energy Inc. has a market cap of $8.26 billion; its shares were traded at around $37.57 with a P/E ratio of 13.8 and P/S ratio of 1.7. The dividend yield of Consol Energy Inc. stocks is 1%. Consol Energy Inc. had an annual average earning growth of 30.3% over the past 10 years. GuruFocus rated Consol Energy Inc. the business predictability rank of 3-star.

Reduced: Chesapeake Energy Corp. (CHK, Financial)

T Boone Pickens reduced to his holdings in Chesapeake Energy Corp. by 55.52%. His sale prices were between $22.37 and $28.97, with an estimated average price of $25.97. The impact to his portfolio due to this sale was -2.22%. T Boone Pickens still held 274,751 shares as of 03/31/2010.

Chesapeake Energy Corp. is an independent oil and gas company engaged in the development, exploration, acquisition and production of onshore natural gas and oil reserves. Chesapeake Energy Corp. has a market cap of $14.5 billion; its shares were traded at around $22.25 with a P/E ratio of 7.7 and P/S ratio of 1.9. The dividend yield of Chesapeake Energy Corp. stocks is 1.3%. Chesapeake Energy Corp. had an annual average earning growth of 14.7% over the past 10 years. GuruFocus rated Chesapeake Energy Corp. the business predictability rank of 2-star.

Reduced: Occidental Petroleum Corp. (OXY, Financial)

T Boone Pickens reduced to his holdings in Occidental Petroleum Corp. by 63.83%. His sale prices were between $76.01 and $84.27, with an estimated average price of $80.54. The impact to his portfolio due to this sale was -2.55%. T Boone Pickens still held 77,000 shares as of 03/31/2010.

Occidental Petroleum Corp. explores for, develops, produces and markets crude oil and natural gas and manufactures and markets a variety of basic chemicals, including chlorine, caustic soda, and ethylene dichloride, as well as specialty chemicals and vinyls, including polyvinyl chloride resins and vinyl chloride monomer. Occidental Petroleum Corp. has a market cap of $65.73 billion; its shares were traded at around $80.93 with a P/E ratio of 17.6 and P/S ratio of 4.2. The dividend yield of Occidental Petroleum Corp. stocks is 1.6%. Occidental Petroleum Corp. had an annual average earning growth of 13.6% over the past 10 years.

Reduced: Hess Corp. (HES, Financial)

T Boone Pickens reduced to his holdings in Hess Corp. by 65.88%. His sale prices were between $57.03 and $65.83, with an estimated average price of $60.7. The impact to his portfolio due to this sale was -3.42%. T Boone Pickens still held 135,156 shares as of 03/31/2010.

Hess Corporation, is a global integrated energy company engaged in the exploration for and the production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products, electricity. Hess Corp. has a market cap of $18.12 billion; its shares were traded at around $55.2 with a P/E ratio of 14.5 and P/S ratio of 0.6. The dividend yield of Hess Corp. stocks is 0.7%. Hess Corp. had an annual average earning growth of 8.4% over the past 10 years. GuruFocus rated Hess Corp. the business predictability rank of 4-star.

Sold Out: Canadian Natural Resources Ltd. (CNQ)

T Boone Pickens sold out his holdings in Canadian Natural Resources Ltd.. His sale prices were between $63.81 and $73.95, with an estimated average price of $69.62.

Canadian Natural Resources Limited is a senior independent oil and natural gas exploration, development and production company based in Calgary, Alberta. Canadian Natural Resources Ltd. has a market cap of $37.01 billion; its shares were traded at around $68.21 with a P/E ratio of 14 and P/S ratio of 3.7. The dividend yield of Canadian Natural Resources Ltd. stocks is 0.8%. Canadian Natural Resources Ltd. had an annual average earning growth of 22.6% over the past 10 years.

Sold Out: Foster Wheeler Ag. (FWLT)

T Boone Pickens sold out his holdings in Foster Wheeler Ag.. His sale prices were between $24.45 and $34.82, with an estimated average price of $28.62.

Foster Wheeler AG, formerly Foster Wheeler Limited, along with its subsidiaries provide construction and engineering services to the oil and gas, oil refining, chemical/petrochemical, pharmaceutical, environmental, and power plant operation and maintenance sectors worldwide. Foster Wheeler Ag. has a market cap of $3.26 billion; its shares were traded at around $25.54 with a P/E ratio of 8.7 and P/S ratio of 0.7.

Sold Out: Gastar Exploration Ltd (GST)

T Boone Pickens sold out his holdings in Gastar Exploration Ltd. His sale prices were between $4.27 and $5.5, with an estimated average price of $4.85.

Gastar Exploration, Ltd. is an exploration and production company focused on finding and developing natural gas assets in North America and Australia. Gastar Exploration Ltd has a market cap of $200.1 million; its shares were traded at around $4 with and P/S ratio of 6.1. Gastar Exploration Ltd had an annual average earning growth of 1.7% over the past 5 years.

Sold Out: Fluor Corp. (FLR)

T Boone Pickens sold out his holdings in Fluor Corp.. His sale prices were between $42.44 and $50.2, with an estimated average price of $45.98.

Fluor is a FORTUNE 500 company that delivers engineering, procurement, construction, maintenance (EPCM), and project management to governments and clients in diverse industries around the world. Fluor Corp. has a market cap of $8.96 billion; its shares were traded at around $50.09 with a P/E ratio of 14.7 and P/S ratio of 0.4. The dividend yield of Fluor Corp. stocks is 1%. Fluor Corp. had an annual average earning growth of 22% over the past 10 years. GuruFocus rated Fluor Corp. the business predictability rank of 2-star.

Sold Out: Questar Corp. (STR)

T Boone Pickens sold out his holdings in Questar Corp.. His sale prices were between $39.8 and $45.64, with an estimated average price of $42.99.

Questar Corporation is a natural gas-focused energy company with five major lines of business - gas and oil exploration and production, midstream field services, energy marketing, interstate gas transportation, and retail gas distribution. Questar Corp. has a market cap of $8.16 billion; its shares were traded at around $46.6 with a P/E ratio of 17.4 and P/S ratio of 2.7. The dividend yield of Questar Corp. stocks is 1.1%. Questar Corp. had an annual average earning growth of 18.1% over the past 10 years. GuruFocus rated Questar Corp. the business predictability rank of 4.5-star.

Sold Out: Forest Oil Corp. (FST)

T Boone Pickens sold out his holdings in Forest Oil Corp.. His sale prices were between $22.25 and $29.51, with an estimated average price of $26.36.

Forest Oil Corporation is engaged in the acquisition, exploration, development, production and marketing of natural gas and crude oil in North America. Forest Oil Corp. has a market cap of $2.99 billion; its shares were traded at around $26.62 with a P/E ratio of 13.5 and P/S ratio of 3.9.

Sold Out: Cabot Oil & Gas Corp. (COG)

T Boone Pickens sold out his holdings in Cabot Oil & Gas Corp.. His sale prices were between $36.4 and $46.23, with an estimated average price of $40.93.

Cabot Oil & Gas Corp. is an independent oil and gas company engaged in the exploration, development, acquisition and exploitation of oil and gas properties located in four areas of the United States: the onshore Texas and Louisiana Gulf Coast; the Rocky Mountains; Appalachia; and the Mid-Continent or Anadarko Basin. Cabot Oil & Gas Corp. has a market cap of $3.42 billion; its shares were traded at around $32.9 with a P/E ratio of 22 and P/S ratio of 3.9. The dividend yield of Cabot Oil & Gas Corp. stocks is 0.4%. Cabot Oil & Gas Corp. had an annual average earning growth of 15.9% over the past 10 years. GuruFocus rated Cabot Oil & Gas Corp. the business predictability rank of 4.5-star.

Sold Out: Devon Energy Corp. (DVN)

T Boone Pickens sold out his holdings in Devon Energy Corp.. His sale prices were between $62.93 and $76.65, with an estimated average price of $69.73.

Devon Energy Corporation is an independent energy company engaged primarily in oil and gas exploration, development and production, and in the acquisition of producing properties. Devon Energy Corp. has a market cap of $28.93 billion; its shares were traded at around $64.75 with a P/E ratio of 12 and P/S ratio of 3.6. The dividend yield of Devon Energy Corp. stocks is 1%.