1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
matsandalex
matsandalex
Articles (245) 

Soros Follows Pabrai By Upping Stake In Harvest Natural Resources

February 07, 2011 | About:

Billionaire investor George Soros recently revealed that he has upped his stake in Harvest Natural Resources (NYSE:HNR). In a 13G filing on January 24, 2011, Soros Fund Management disclosed a 5.94% ownership stake in HNR with 2,008,417 shares.

Harvest Natural Resources, Inc. is a small cap oil and gas exploration and development company with a market cap of just over $400 million. Soros has massively upped his stake in the energy company by over 241% from September 30, 2010. This implies that Soros purchased the shares for between $10.42-$14. Currently, the shares trade at $11.85.

Soros appears to be following in the footsteps of legendary value investor Mohnish Pabrai who is a large holder of HNR with 3,773,100 shares as of 09/30/2010. HNR is one of the largest positions for Pabrai (13.4% of portfolio) and he has held the position for years with conviction. It should be noted that Pabrai reduced to his holdings in Harvest Natural Resources Inc. by 16.02% in November 2010.

HNR has operations in some volatile regions of the world including Venezuela and China. However the company also owns interests in exploration acreage in the Gulf Coast Region of the United States, Antelope prospect in the western United States, and exploration acreage mainly onshore West Sulawesi in the Republic of Indonesia, offshore of the Republic of Gabon, and onshore in Oman.

http://fundmanagernews.com/


Rating: 4.2/5 (5 votes)

Comments

Please leave your comment:


GuruFocus has detected 2 Warning Signs with Harvest Natural Resources Inc $HNR.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.

Performances of the stocks mentioned by matsandalex


User Generated Screeners


OGCAMGUpdated Bad Current Ratio 2017
sbeccuegf10YR 10% BOOK
sbeccuegfBANKS 10 ROE
stewloewySL-Default Template
rmaluskiOE + Div Growth Hold List
pbarker4638 Profitable Quarters
vvalsecchiGuru Screen
itflpalmsEV-EBITDA
pbarker4610 profitable years, 0% Yield
jont017Low Ebitda/EV
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
FEEDBACK