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Billionaire Oilman Boone Pickens Buys BP, NE, QEP, APA, PXP, Sells HES, APC, RIG

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gurufocus

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This is the Q3 portfolio update of billionaire oil investor T. Boone Pickens. He bought in BP, taking the advantages of the price drop due to the catastrophic oil spill. As of 09/30/2010, BP Capital owns 29 stocks with a total value of $279 million.

T Boone Pickens buys Bp P.l.c., Noble Corp., Apache Corp., Qep Resources Inc., Plains Exploration & Production Company, Chesapeake Energy Corp., Encana Corp., Mcmoran Exploration Co., Southwestern Energy Company, Suncor Energy Inc., Weatherford International, Ltd. (Switzerland), Devon Energy Corp., sells, Transocean Inc., Hess Corp., Anadarko Petroleum Corp. during the 3-months ended 09/30/2010, according to the most recent filings of his investment company, BP Capital. These are the details of the buys and sells.

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 92.4%
Basic Materials 1.9%
Industrials 1.8%


These are the top 5 holdings of T Boone Pickens

  1. McMoRan Exploration Co. (MMR) - 1,171,660 shares, 7.22% of the total portfolio. Shares added by 4.57%
  2. BP P.l.c. (BP) - 481,373 shares, 7.1% of the total portfolio. Shares added by 10000%
  3. Suncor Energy Inc. (SU) - 567,119 shares, 6.61% of the total portfolio. Shares added by 2.5%
  4. Chesapeake Energy Corp. (CHK) - 743,348 shares, 6.03% of the total portfolio. Shares added by 26.07%
  5. Apache Corp. (APA) - 164,260 shares, 5.75% of the total portfolio. Shares added by 114.02%


Added: Apache Corp. (APA)

T Boone Pickens added to his holdings in Apache Corp. by 114.02%. His purchase prices were between $82.75 and $98.47, with an estimated average price of $91.95. The impact to his portfolio due to this purchase was 3.06%. His holdings were 164,260 shares as of 09/30/2010.

Apache Corporation is an independent energy company that explores for, develops and produces natural gas, crude oil and natural gas liquids. Apache Corp. has a market cap of $39.89 billion; its shares were traded at around $109.51 with a P/E ratio of 12.6 and P/S ratio of 4.63. The dividend yield of Apache Corp. stocks is 0.55%. Apache Corp. had an annual average earning growth of 16.6% over the past 10 years. GuruFocus rated Apache Corp. the business predictability rank of 3-star.

Added: Plains Exploration & Production Company (PXP)

T Boone Pickens added to his holdings in Plains Exploration & Production Company by 81.94%. His purchase prices were between $20.18 and $26.9, with an estimated average price of $23.69. The impact to his portfolio due to this purchase was 1.36%. His holdings were 317,202 shares as of 09/30/2010.

PLAINS EXPLORATION & PRODUCTION COMPANY is an independent oil and gas company primarily engaged in the activities of acquiring, developing, exploring and producing oil and gas properties primarily in the United States. Plains Exploration & Production Company has a market cap of $4.07 billion; its shares were traded at around $29.03 with a P/E ratio of 13.02 and P/S ratio of 3.43.

Added: Chesapeake Energy Corp. (CHK)

T Boone Pickens added to his holdings in Chesapeake Energy Corp. by 26.07%. His purchase prices were between $20.04 and $22.56, with an estimated average price of $21.29. The impact to his portfolio due to this purchase was 1.25%. His holdings were 743,348 shares as of 09/30/2010.

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 $14.87 billion; its shares were traded at around $22.72 with a P/E ratio of 7.47 and P/S ratio of 1.93. The dividend yield of Chesapeake Energy Corp. stocks is 1.32%. 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.

Added: Encana Corp. (ECA)

T Boone Pickens added to his holdings in Encana Corp. by 58.43%. His purchase prices were between $26.5 and $33.28, with an estimated average price of $29.71. The impact to his portfolio due to this purchase was 1.2%. His holdings were 300,242 shares as of 09/30/2010.

EnCana Corporation is one of the world's largest independent natural gas producers and gas storage operators. Encana Corp. has a market cap of $21.46 billion; its shares were traded at around $29.18 with a P/E ratio of 19.58 and P/S ratio of 1.93. The dividend yield of Encana Corp. stocks is 2.74%. Encana Corp. had an annual average earning growth of 20.7% over the past 10 years.

Added: Mcmoran Exploration Co. (MMR)

T Boone Pickens added to his holdings in Mcmoran Exploration Co. by 4.57%. His purchase prices were between $10.03 and $17.51, with an estimated average price of $12.55. The impact to his portfolio due to this purchase was 0.32%. His holdings were 1,171,660 shares as of 09/30/2010.

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 $1.6 billion; its shares were traded at around $16.79 with and P/S ratio of 3.68.

Added: Southwestern Energy Company (SWN)

T Boone Pickens added to his holdings in Southwestern Energy Company by 8.3%. His purchase prices were between $31.44 and $38.81, with an estimated average price of $35.17. The impact to his portfolio due to this purchase was 0.19%. His holdings were 205,242 shares as of 09/30/2010.

Southwestern Energy Company is an energy company primarily focused on natural gas. Southwestern Energy Company has a market cap of $13.11 billion; its shares were traded at around $37.89 with a P/E ratio of 21.65 and P/S ratio of 6.11. Southwestern Energy Company had an annual average earning growth of 20% over the past 10 years.

Added: Suncor Energy Inc. (SU)

T Boone Pickens added to his holdings in Suncor Energy Inc. by 2.5%. His purchase prices were between $29.21 and $33.97, with an estimated average price of $31.92. The impact to his portfolio due to this purchase was 0.16%. His holdings were 567,119 shares as of 09/30/2010.

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 $54 billion; its shares were traded at around $34.57 with a P/E ratio of 31.43 and P/S ratio of 2.26. The dividend yield of Suncor Energy Inc. stocks is 1.16%. 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.

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

T Boone Pickens added to his holdings in Weatherford International, Ltd. (switzerland) by 2.5%. His purchase prices were between $13.07 and $17.4, with an estimated average price of $15.69. The impact to his portfolio due to this purchase was 0.13%. His holdings were 875,340 shares as of 09/30/2010.

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 $14.45 billion; its shares were traded at around $19.5 with a P/E ratio of 52.7 and P/S ratio of 1.64. 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: Devon Energy Corp. (DVN)

T Boone Pickens added to his holdings in Devon Energy Corp. by 2.5%. His purchase prices were between $59.79 and $65.68, with an estimated average price of $62.91. The impact to his portfolio due to this purchase was 0.11%. His holdings were 195,213 shares as of 09/30/2010.

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 $31.53 billion; its shares were traded at around $72.48 with a P/E ratio of 11.29 and P/S ratio of 3.93. The dividend yield of Devon Energy Corp. stocks is 0.88%.

New Purchase: Bp P.l.c. (BP)

T Boone Pickens initiated holdings in Bp P.l.c.. His purchase prices were between $29.35 and $41.33, with an estimated average price of $37.3. The impact to his portfolio due to this purchase was 7.1%. His holdings were 481,373 shares as of 09/30/2010.

BP p.l.c. is the holding company of one of the world's largest petroleum and petrochemicals groups. Bp P.l.c. has a market cap of $134.62 billion; its shares were traded at around $42.99 with a P/E ratio of 6.04 and P/S ratio of 0.55. Bp P.l.c. had an annual average earning growth of 20.3% over the past 10 years. GuruFocus rated Bp P.l.c. the business predictability rank of 3-star.

New Purchase: Schlumberger Ltd. (SLB)

T Boone Pickens initiated holdings in Schlumberger Ltd.. His purchase prices were between $53.33 and $63.26, with an estimated average price of $58.7. The impact to his portfolio due to this purchase was 4.65%. His holdings were 210,737 shares as of 09/30/2010.

Schlumberger Limited is a global technology services company consisting of two business segments, Schlumberger Oilfield Services and SchlumbergerSema. Schlumberger Ltd. has a market cap of $101.47 billion; its shares were traded at around $74.11 with a P/E ratio of 27.76 and P/S ratio of 4.47. The dividend yield of Schlumberger Ltd. stocks is 1.13%. Schlumberger Ltd. had an annual average earning growth of 23.4% over the past 5 years.

New Purchase: Noble Corp. (NE)

T Boone Pickens initiated holdings in Noble Corp.. His purchase prices were between $30.36 and $35.95, with an estimated average price of $33.04. The impact to his portfolio due to this purchase was 4.07%. His holdings were 336,000 shares as of 09/30/2010.

Noble Corp. is a provider of diversified services for the oil and gas industry. Noble Corp. has a market cap of $9.44 billion; its shares were traded at around $36.9 with a P/E ratio of 8.41 and P/S ratio of 2.59. The dividend yield of Noble Corp. stocks is 1.42%. Noble Corp. had an annual average earning growth of 23.8% over the past 10 years. GuruFocus rated Noble Corp. the business predictability rank of 2-star.

New Purchase: Qep Resources Inc. (QEP)

T Boone Pickens initiated holdings in Qep Resources Inc.. His purchase prices were between $28.18 and $34.9, with an estimated average price of $30.75. The impact to his portfolio due to this purchase was 1.83%. His holdings were 170,000 shares as of 09/30/2010.

QEP Resources is a independent natural gas and oil exploration and production company. Qep Resources Inc. has a market cap of $5.78 billion; its shares were traded at around $32.99 with and P/S ratio of 2.63. The dividend yield of Qep Resources Inc. stocks is 0.06%.

Reduced: Hess Corp. (HES)

T Boone Pickens reduced to his holdings in Hess Corp. by 54.21%. His sale prices were between $49.88 and $58.78, with an estimated average price of $53.8. The impact to his portfolio due to this sale was -3.26%. T Boone Pickens still held 130,112 shares as of 09/30/2010.

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 $23.01 billion; its shares were traded at around $70.06 with a P/E ratio of 13.45 and P/S ratio of 0.78. The dividend yield of Hess Corp. stocks is 0.57%. 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.

Reduced: Anadarko Petroleum Corp. (APC)

T Boone Pickens reduced to his holdings in Anadarko Petroleum Corp. by 30.93%. His sale prices were between $38.07 and $57.68, with an estimated average price of $50.49. The impact to his portfolio due to this sale was -1.98%. T Boone Pickens still held 216,983 shares as of 09/30/2010.

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 $31.67 billion; its shares were traded at around $63.98 with a P/E ratio of 41.28 and P/S ratio of 3.52. The dividend yield of Anadarko Petroleum Corp. stocks is 0.56%. 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.

Sold Out: Transocean Inc. (RIG)

T Boone Pickens sold out his holdings in Transocean Inc.. His sale prices were between $45.26 and $65.13, with an estimated average price of $53.68.

Transocean LTD., formerly Transocean Inc., is an international provider of offshore contract drilling services for oil and gas wells. Transocean Inc. has a market cap of $21.6 billion; its shares were traded at around $67.71 with a P/E ratio of 9.4 and P/S ratio of 1.87. Transocean Inc. had an annual average earning growth of 23.2% over the past 10 years. GuruFocus rated Transocean Inc. the business predictability rank of 2-star.

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gurufocus
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