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Daniel Loeb Reshuffles Portfolio – Murphy Oil, Kraft, Nexen, Symantec Biggest Buys

November 15, 2012 | About:
Holly LaFon

Holly LaFon

267 followers
Daniel Loeb, who routinely kills in the market at his New York-based, $8.7 billion hedge fund Third Point LLC, has updated his third quarter portfolio. The largest positions to join his portfolio in the quarter include Murphy Oil Corp. (MUR), Kraft Foods Group (KRFT), Nexen Inc. (NXY), Symantec Corp. (SYMC) and Wesco International (WCC).

The manager has beat the S&P 500 43% to -1.1% cumulatively in the last five years targeting undervalued companies and, often, firing critical letters at their underperforming executives.

Murphy Oil Corp. (MUR)

Loeb bought 4,851,000 shares for $53 per share on average, for a 5.1% weight in his portfolio.

Murphy Oil Corporation is a worldwide oil and gas exploration and production company with refining and marketing operations in the U.S. and the UK and crude oil transportation and trading operations in Canada.

Murphy Oil Corporation has a market cap of $11.34 billion; its shares were traded at around $55.04 with a P/E ratio of 10.6 and P/S ratio of 0.4. The dividend yield of Murphy Oil Corporation stocks is 2.1%. Murphy Oil Corporation had an annual average earnings growth of 17.3% over the past 10 years. GuruFocus rated Murphy Oil Corporation the business predictability rank of 3-star.

Kraft Foods Group (KFT)

Loeb bought 5 million shares of Kraft Foods Group, for a 4.1% weight in his portfolio.

Kraft Foods Inc. is the largest branded food and beverage company headquartered in the U.S. It has a market cap of $26.02 billion; its shares were traded around $43.92 with a P/E ratio of 13.37.

Nexen Inc. (NXY)

Loeb bought 5 million shares of Nexen Inc. for $23 per share on average, for a 2.5% weight in his portfolio.

Nexen Inc. is an independent, Canadian-based global energy company. Nexen Inc. has a market cap of $12.66 billion; its shares were traded at around $25.18 with a P/E ratio of 19.2 and P/S ratio of 2. The dividend yield of Nexen Inc. stocks is 0.9%. Nexen Inc. had an annual average earnings growth of 12.6% over the past 10 years. GuruFocus rated Nexen Inc. the business predictability rank of 2-star.

Symantec Corp. (SYMC)

Loeb bought 6 million shares of Symantec Corp. for $16 per share on average, for a 2.1% weighting in his portfolio.

Symantec, a world leader in Internet security technology, provides a broad range of content security solutions to individuals and companies. Symantec Corp. has a market cap of $12.61 billion; its shares were traded at around $17.55 with a P/E ratio of 12.1 and P/S ratio of 1.9. Symantec Corp. had an annual average earnings growth of 13.2% over the past 10 years. GuruFocus rated Symantec Corp. the business predictability rank of 4-star.

Wesco International (WCC)

Loeb bought 1.699 million shares of Wesco International for $58 per share on average, for a 1.9% weighting in his portfolio.

Wesco International Inc. is a provider of electrical products and other industrial MRO supplies and services in North America. Wesco International Inc. has a market cap of $2.73 billion; its shares were traded at around $60.17 with a P/E ratio of 13.9 and P/S ratio of 0.5. Wesco International Inc. had an annual average earnings growth of 12.1% over the past 10 years.

Daniel Loeb bought 13 stocks in total, and sold out 10. See his complete portfolio updates for the third quarter here. Also check out his undervalued stocks, top growth companies and high yield stocks.


Rating: 2.6/5 (7 votes)

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