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T. Boone Pickens Changes Up Portfolio - Top 5 Buys

August 14, 2013 | About:
Holly LaFon

Holly LaFon

249 followers
Energy mogul T Boone Pickens has been vocal about the need for an energy plan in the U.S. since 2008, though it has as yet failed to gain traction in Washington, D.C. He strongly supports the U.S. transitioning to sole reliance on its own resources and separating from OPEC oil. In a video he produced Aug. 6, Pickens also emphasized the need for electric cars and increasing use of natural gas.



In the second quarter, Pickens acquired 20 new stock positions for a total of 36 positions in his portfolio. This amounted to a sweeping 47% quarter-over-quarter turnover.

The largest new buys were: Whiting Petroleum Corporation (WLL), Suncor Energy Inc. (SU), Bonanza Creek Energy Inc. (BCEI), SM Energy Co. (SM) and Cabot Oil & Gas Corp. (COG).

Whiting Petroleum Corporation (WLL)

Pickens purchased 149,440 shares of Weatherford International in the second quarter when the price averaged $47. The holding represents 6.8% of his portfolio and 0.13% of shares outstanding. The price has risen 7% since.

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Whiting Petroleum Corporation was founded in 1980. The company is an independent oil and natural gas company engaged in exploitation, acquisition, exploration and production activities mainly in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast and Michigan regions of the U.S.

Whiting Petroleum Corporation has a market cap of $5.9 billion; its shares were traded at around $49.75 with a P/E ratio of 15.40 and P/S ratio of 2.50. Whiting Petroleum Corporation had an annual average earnings growth of 11.9% over the past 10 years.

Suncor Energy Inc. (SU)

Pickens purchased 225,000 shares of Suncor Energy in the second quarter when the price averaged $30. The holding represents 6.5% of his portfolio and 0.01% of shares outstanding. The price has since increased 8%.

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Suncor Energy Inc. was incorporated in Canada. It is an integrated energy company in Canada. Suncor Energy Inc. has a market cap of $49.19 billion; its shares were traded at around $32.72 with a P/E ratio of 18.30 and P/S ratio of 1.30. The dividend yield of Suncor Energy Inc. stocks is 1.80%. Suncor Energy Inc. had an annual average earnings growth of 11.4% over the past 10 years. GuruFocus rated Suncor Energy Inc the business predictability rank of 2.5-star.

Bonanza Creek Energy Inc. (BCEI)

Pickens purchased 181,829 shares of Bonanza Creek Energy in the second quarter when the price averaged $36. The holding represents 6.3% of the portfolio and 0.45% of shares outstanding. The price has since increased 5%.

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Bonanza Creek Energy Inc. was incorporated in the state of Delaware in 2010. Bonanza Creek Energy Inc. has a market cap of $1.54 billion; its shares were traded at around $38.18 with a P/E ratio of 32.30 and P/S ratio of 5.80.

SM Energy Co. (SM)

Pickens purchased 94,440 shares of SM Energy in the second quarter when the price averaged $61. The holding represents 5.6% of the portfolio and 0.14% of shares outstanding. The price has increased 11% since.

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SM Energy Co. was founded in 1908 and incorporated in Delaware in 1915. SM Energy Co. has a market cap of $4.55 billion; its shares were traded at around $67.64 with a P/E ratio of 46.00 and P/S ratio of 2.40. The dividend yield of SM Energy Co. stocks is 0.20%. SM Energy Co. had an annual average earnings growth of 12.9% over the past 10 years. GuruFocus rated SM Energy Co. the business predictability rank of 2.5-star.

Cabot Oil & Gas Corporation (COG)

Pickens purchased 69,686 shares of Cabot Oil & Gas Corporation in the second quarter when the price averaged $69. The position represents 4.9% of the portfolio and 0.03% of shares outstanding. The price has since increased 9%.

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Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation, exploration, production and marketing of natural gas and to a lesser extent, crude oil and Cabot Oil & Gas Corporation and its subsidiaries are engaged in the development, exploitation, exploration, production and marketing of natural gas and, to a lesser extent, crude oil and natural gas liquids.

Cabot Oil & Gas Corporation has a market cap of $15.76 billion; its shares were traded at around $74.78 with a P/E ratio of 75.30 and P/S ratio of 10.60. The dividend yield of Cabot Oil & Gas Corporation stocks is 0.10%. Cabot Oil & Gas Corporation had an annual average earnings growth of 12.5% over the past 10 years. GuruFocus rated Cabot Oil & Gas Corporation the business predictability rank of 2.5-star.

See more of Pickens’ buys and sells in his portfolio here. Also check out the Undervalued Stocks, Top Growth Companies and High Yield stocks of T Boone Pickens.


Rating: 3.7/5 (9 votes)

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