T Boone Pickens Buys Transocean Inc., Halliburton Company, XTO Energy Inc., Sells Exxon Mobil Corp., Anadarko Petroleum Corp., Valero Energy Corp.

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May 21, 2008
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With oil prices at all time high, are oil stocks too hot? Apparently billionaire investor T Boone Pickens does not think so. If you want to invest in oil stocks, you should certainly see what T Boone Pickens is doing. T Boone Pickens owns 23 stocks with a total value of $1.3 billion. These are the details of the buys and sells.


T Boone Pickens buys Transocean Inc., Halliburton Company, XTO Energy Inc., SANDRIDGE ENERGY INC, McMoRan Exploration Co., sells Exxon Mobil Corp., Anadarko Petroleum Corp., Valero Energy Corp. during the 3-months ended 03/31/2008, according to the most recent filings of his investment company, BP Capital. T Boone Pickens owns 23 stocks with a total value of $1.3 billion. These are the details of the buys and sells.





New Purchases: HAL, MMR, RIG, SD, XTO,


Added Positions: ABB, FLR, FWLT, JEC, OXY, SLB, TLM, WFT,


Reduced Positions: CVX, SU,


Sold Out: APC, VLO, XOM,





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


Added: Schlumberger Ltd. (SLB, Financial)


T Boone Pickens added to his holdings in Schlumberger Ltd. by 16.63%. His purchase prices were between $77.18 and $97.76, with an estimated average price of $84.3. The impact to his portfolio due to this purchase was 1.11%. His holdings were 1,152,366 shares as of 03/31/2008.


Schlumberger Limited operates as an oilfield services company in the United States and internationally. It has two segments, Oilfield Services and WesternGeco. Schlumberger Ltd. has a market cap of $126.37 billion; its shares were traded at around $105.92 with a P/E ratio of 24.48 and P/S ratio of 5.28. The dividend yield of Schlumberger Ltd. stocks is 0.8%.


Added: Weatherford International Ltd. (WFT, Financial)


T Boone Pickens added to his holdings in Weatherford International Ltd. by 41.29%. His purchase prices were between $59.2 and $71.13, with an estimated average price of $65.7. The impact to his portfolio due to this purchase was 0.9%. His holdings were 550,397 shares as of 03/31/2008.


Weatherford International, Ltd. provides equipment and services used for the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide. Weatherford International Ltd. has a market cap of $30.72 billion; its shares were traded at around $90.41 with a P/E ratio of 29.90 and P/S ratio of 3.73.


Added: Foster Wheeler Ltd. (FWLT, Financial)


T Boone Pickens added to his holdings in Foster Wheeler Ltd. by 19.45%. His purchase prices were between $54.29 and $79.85, with an estimated average price of $66.5. The impact to his portfolio due to this purchase was 0.52%. His holdings were 727,177 shares as of 03/31/2008.


Foster Wheeler, Ltd. and its subsidiaries provide construction and engineering services to the oil and gas, oil refining, chemical/petrochemical, pharmaceutical, environmental, power generation, and power plant operation and maintenance sectors. Foster Wheeler Ltd. has a market cap of $11.15 billion; its shares were traded at around $77.36 with a P/E ratio of 26.93 and P/S ratio of 1.93.


Added: Occidental Petroleum Corp. (OXY, Financial)


T Boone Pickens added to his holdings in Occidental Petroleum Corp. by 2.69%. His purchase prices were between $64.6 and $77.51, with an estimated average price of $71.7. The impact to his portfolio due to this purchase was 0.3%. His holdings were 1,997,795 shares as of 03/31/2008.


Occidental Petroleum Corporation, through its subsidiaries, primarily engages in the exploration, development, production, and marketing of crude oil, natural gas liquids, and natural gas in the United States and internationally. Occidental Petroleum Corp. has a market cap of $80.31 billion; its shares were traded at around $97.85 with a P/E ratio of 13.53 and P/S ratio of 3.79. The dividend yield of Occidental Petroleum Corp. stocks is 1.4%.


Added: Fluor Corp. (FLR, Financial)


T Boone Pickens added to his holdings in Fluor Corp. by 2.69%. His purchase prices were between $111.45 and $146.99, with an estimated average price of $131. The impact to his portfolio due to this purchase was 0.17%. His holdings were 610,673 shares as of 03/31/2008.


Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction management, and project management services worldwide. It operates in five segments: Oil & Gas, Industrial & Infrastructure, Government, Fluor Corp. has a market cap of $16.95 billion; its shares were traded at around $191.35 with a P/E ratio of 32.68 and P/S ratio of 1.02. The dividend yield of Fluor Corp. stocks is 0.5%.


Added: ABB Ltd. (ABB, Financial)


T Boone Pickens added to his holdings in ABB Ltd. by 2.69%. His purchase prices were between $22.93 and $26.71, with an estimated average price of $24.9. The impact to his portfolio due to this purchase was 0.15%. His holdings were 2,708,722 shares as of 03/31/2008.


ABB, Ltd. provides power and automation technologies to utility and industry customers worldwide. Its Power Products division offers products and services for power transmission and distribution, which include high- and medium-voltage switchgears. ABB Ltd. has a market cap of $74.75 billion; its shares were traded at around $32.57 with a P/E ratio of 17.80 and P/S ratio of 2.44.


Added: Jacobs Engineering Group Inc. (JEC, Financial)


T Boone Pickens added to his holdings in Jacobs Engineering Group Inc. by 2.69%. His purchase prices were between $71.65 and $96.61, with an estimated average price of $78.6. The impact to his portfolio due to this purchase was 0.14%. His holdings were 908,253 shares as of 03/31/2008.


Jacobs Engineering Group, Inc. provides technical, professional, and construction services to industrial, commercial, and governmental customers worldwide. Jacobs Engineering Group Inc. has a market cap of $11.68 billion; its shares were traded at around $95.91 with a P/E ratio of 33.24 and P/S ratio of 1.23.


Added: Talisman Energy Inc. (TLM, Financial)


T Boone Pickens added to his holdings in Talisman Energy Inc. by 2.69%. His purchase prices were between $15.61 and $19.29, with an estimated average price of $16.9. The impact to his portfolio due to this purchase was 0.11%. His holdings were 3,027,119 shares as of 03/31/2008.


Talisman Energy, Inc., an upstream oil and gas company, engages in the exploration, development, production, transportation, and marketing of crude oil, natural gas, and natural gas liquids in North America, the United Kingdom, Scandinavia, Talisman Energy Inc. has a market cap of $25.56 billion; its shares were traded at around $25.09 with a P/E ratio of 12.95 and P/S ratio of 3.08. The dividend yield of Talisman Energy Inc. stocks is 0.7%.


New Purchase: Transocean Inc. (RIG, Financial)


T Boone Pickens initiated holdings in Transocean Inc.. His purchase prices were between $125.18 and $142.46, with an estimated average price of $133.2. The impact to his portfolio due to this purchase was 11.36%. His holdings were 1,085,365 shares as of 03/31/2008.


Transocean, Inc., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells. It offers deepwater and harsh environment drilling services; oil and gas drilling management services; and drilling engineering. Transocean Inc. has a market cap of $51.47 billion; its shares were traded at around $161.4 with a P/E ratio of 10.67 and P/S ratio of 6.31.


New Purchase: Halliburton Company (HAL, Financial)


T Boone Pickens initiated holdings in Halliburton Company. His purchase prices were between $32.32 and $39.21, with an estimated average price of $36. The impact to his portfolio due to this purchase was 4.5%. His holdings were 1,476,346 shares as of 03/31/2008.


Halliburton Company provides various products and services to the energy industry for the exploration, development, and production of oil and gas properties worldwide. Halliburton Company has a market cap of $43.55 billion; its shares were traded at around $49.92 with a P/E ratio of 13.03 and P/S ratio of 2.70. The dividend yield of Halliburton Company stocks is 0.7%.


New Purchase: XTO Energy Inc. (XTO, Financial)


T Boone Pickens initiated holdings in XTO Energy Inc.. His purchase prices were between $49.74 and $61.59, with an estimated average price of $56.1. The impact to his portfolio due to this purchase was 3.43%. His holdings were 716,762 shares as of 03/31/2008.


XTO Energy, Inc. and its subsidiaries engage in the acquisition, development, exploitation, and exploration of producing oil and gas properties in the United States. XTO Energy Inc. has a market cap of $35.39 billion; its shares were traded at around $69.3 with a P/E ratio of 19.10 and P/S ratio of 5.76. The dividend yield of XTO Energy Inc. stocks is 0.8%.


New Purchase: SANDRIDGE ENERGY INC (SD, Financial)


T Boone Pickens initiated holdings in SANDRIDGE ENERGY INC. His purchase prices were between $30.16 and $39.45, with an estimated average price of $34.7. The impact to his portfolio due to this purchase was 3.11%. His holdings were 1,025,621 shares as of 03/31/2008.


SandRidge Energy, Inc., together with its subsidiaries, operates as an oil and gas company in the United States. It focuses on exploration, development, and production related to oil and gas activities. SANDRIDGE ENERGY INC has a market cap of $7.18 billion; its shares were traded at around $50.28 with a P/E ratio of 534.89 and P/S ratio of 10.20.


New Purchase: McMoRan Exploration Co. (MMR)


T Boone Pickens initiated holdings in McMoRan Exploration Co.. His purchase prices were between $13.65 and $17.84, with an estimated average price of $15.9. The impact to his portfolio due to this purchase was 1.36%. His holdings were 1,017,151 shares as of 03/31/2008.


McMoRan Exploration Co. engages in the exploration, development, production, and marketing of crude oil and natural gas offshore in the Gulf of Mexico and onshore in the Gulf Coast area. McMoRan Exploration Co. has a market cap of $1.88 billion; its shares were traded at around $33.75 with P/S ratio of 2.53.


Reduced: Suncor Energy Inc. (SU)


T Boone Pickens reduced to his holdings in Suncor Energy Inc. by 30.83%. His sale prices were between $89.29 and $109.3, with an estimated average price of $98.6. The impact to his portfolio due to this sale was 7.16%. T Boone Pickens still held 1,255,777 shares as of 03/31/2008.


Suncor Energy, Inc., together with its subsidiaries, operates as an integrated energy company in Canada. It operates through four segments: Oil Sands, Natural Gas, Energy Marketing and Refining, and Refining and Marketing. Suncor Energy Inc. has a market cap of $135.25 billion; its shares were traded at around $145.9 with a P/E ratio of 46.44 and P/S ratio of 7.79. The dividend yield of Suncor Energy Inc. stocks is 0.3%.


Reduced: Chevron Corp. (CVX)


T Boone Pickens reduced to his holdings in Chevron Corp. by 54.65%. His sale prices were between $78.17 and $92.07, with an estimated average price of $84.2. The impact to his portfolio due to this sale was 1.88%. T Boone Pickens still held 438,993 shares as of 03/31/2008.


Chevron Corp. has a market cap of $213.03 billion; its shares were traded at around $103.09 with a P/E ratio of 11.38 and P/S ratio of 0.93. The dividend yield of Chevron Corp. stocks is 2.6%.


Sold Out: Valero Energy Corp. (VLO)


T Boone Pickens sold out his holdings in Valero Energy Corp.. His sale prices were between $48.95 and $64.01, with an estimated average price of $55.9. The impact to his portfolio due to this sale was less than 0.01%.


Valero Energy Corporation operates as a crude oil refining and marketing company in the United States and internationally. Its refining activities include refining operations, wholesale marketing, product supply and distribution, Valero Energy Corp. has a market cap of $26.66 billion; its shares were traded at around $50.12 with a P/E ratio of 6.60 and P/S ratio of 0.25. The dividend yield of Valero Energy Corp. stocks is 1.3%.


Sold Out: Anadarko Petroleum Corp. (APC)


T Boone Pickens sold out his holdings in Anadarko Petroleum Corp.. His sale prices were between $55.27 and $64.5, with an estimated average price of $60.7. The impact to his portfolio due to this sale was less than 0.01%.


Anadarko Petroleum Corporation engages in the exploration and production of oil and gas properties primarily in the United States, the deepwater of the Gulf of Mexico, and Algeria. Anadarko Petroleum Corp. has a market cap of $36.74 billion; its shares were traded at around $78.49 with a P/E ratio of 15.72 and P/S ratio of 3.14. The dividend yield of Anadarko Petroleum Corp. stocks is 0.5%.


Sold Out: Exxon Mobil Corp. (XOM)


T Boone Pickens sold out his holdings in Exxon Mobil Corp.. His sale prices were between $81.35 and $91.28, with an estimated average price of $85.4. The impact to his portfolio due to this sale was less than 0.01%.


Exxon Mobil Corp. has a market cap of $499.63 billion; its shares were traded at around $94.56 with a P/E ratio of 12.29 and P/S ratio of 1.28. The dividend yield of Exxon Mobil Corp. stocks is 1.8%.


T Boone Pickens Buys Transocean Inc., Halliburton Company, XTO Energy Inc., Sells Exxon Mobil Corp., Anadarko Petroleum Corp., Valero Energy Corp.