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T Boone Pickens Buys Valero Energy Corp., National Oilwell Varco Inc., Petrohawk Energy Corp., Sells EOG Resources Inc., Chesapeake Energy Corp., Jacobs Engineering Group Inc.

Oil prices is at a third of its peak in just 6 months. Oil stocks are down even more. Time to pick up some? If you want to buy energy stocks now, you should certainly see what oil man T Boone Pickens buys. These are the details of the buys and sells during the third quarter.

T Boone Pickens buys Valero Energy Corp., National Oilwell Varco Inc., Petrohawk Energy Corp., Westport Innovations Inc, sells EOG Resources Inc., Chesapeake Energy Corp., Jacobs Engineering Group Inc., KBR Inc., InterOil Corp. during the 3-months ended 09/30/2008, according to the most recent filings of his investment company, BP Capital. T Boone Pickens owns 26 stocks with a total value of $1.3 billion. 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

Added: SANDRIDGE ENERGY INC (SD)

T Boone Pickens added to his holdings in SANDRIDGE ENERGY INC by 90.43%. His purchase prices were between $22.15 and $62.56, with an estimated average price of $39.6. The impact to his portfolio due to this purchase was 1.45%. His holdings were 2,009,434 shares as of 09/30/2008.

SandRidge Energy Inc. is an oil and natural gas company headquartered in Oklahoma City with its principal focus on exploration and production. SandRidge also owns and operates drilling rigs and a related oil field services business operating under the Lariat Services Inc. brand name; gas gathering marketing and processing facilities; and through its subsidiary PetroSource Energy Company CO2 treating and transportation facilities and tertiary oil recovery operations. SandRidge focuses its exploration and production activities in West Texas the Cotton Valley Trend in East Texas and the Gulf Coast. SandRidge also owns oil and gas properties in the Piceance Basin of Colorado the Gulf of Mexico and the Anadarko and Arkoma Basins. SANDRIDGE ENERGY INC has a market cap of $1.7 billion; its shares were traded at around $10.27 with a P/E ratio of 10.71 and P/S ratio of 1.40.

Added: Devon Energy Corp. (DVN)

T Boone Pickens added to his holdings in Devon Energy Corp. by 14.26%. His purchase prices were between $89.44 and $117.65, with an estimated average price of $99.9. The impact to his portfolio due to this purchase was 0.86%. His holdings were 966,613 shares as of 09/30/2008.

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 currently owns oil and gas properties concentrated in four operating divisions: the Northern Division; the Southern Division; Canada; and the International Division. Devon Energy Corp. has a market cap of $31.32 billion; its shares were traded at around $70.95 with a P/E ratio of 5.32 and P/S ratio of 1.91. The dividend yield of Devon Energy Corp. stocks is 0.84%.

Added: XTO Energy Inc. (XTO)

T Boone Pickens added to his holdings in XTO Energy Inc. by 18.64%. His purchase prices were between $44.21 and $63.66, with an estimated average price of $51.2. The impact to his portfolio due to this purchase was 0.81%. His holdings were 1,417,244 shares as of 09/30/2008.

XTO Energy Inc. is engaged in the acquisition development exploitation and exploration of producing oil and gas properties and in the production processing marketing and transportation of oil and natural gas. The company has grown primarily through acquisitions of proved oil and gas reserves followed by development and exploitation activities and strategic acquisitions of additional interests in or near such acquired properties. XTO Energy Inc. has a market cap of $19.39 billion; its shares were traded at around $33.62 with a P/E ratio of 8.56 and P/S ratio of 2.62. The dividend yield of XTO Energy Inc. stocks is 1.33%.

Added: McMoRan Exploration Co. (MMR)

T Boone Pickens added to his holdings in McMoRan Exploration Co. by 25.87%. His purchase prices were between $23.78 and $28.27, with an estimated average price of $25.7. The impact to his portfolio due to this purchase was 0.5%. His holdings were 1,317,187 shares as of 09/30/2008.

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 transportingterminaling processing and marketing of sulfur. McMoRan Exploration Co. has a market cap of $764.59 million; its shares were traded at around $10.85 with a P/E ratio of 7.61 and P/S ratio of 0.61.

Added: Tenaris S.A. (TS)

T Boone Pickens added to his holdings in Tenaris S.A. by 10.49%. His purchase prices were between $42 and $68, with an estimated average price of $54.7. The impact to his portfolio due to this purchase was 0.34%. His holdings were 1,222,487 shares as of 09/30/2008.

Tenaris Sa a corporation organized in Luxembourg is a leading manufacturer and supplier of seamless steel pipe products and associated services to the oil and gas energy and other industries. Tenaris's operating subsidiaries include eight established steel pipe manufacturers: AlgomaTubes Confab Dalmine NKKTubes Siat Siderca Tamsa and Tavsa. Tenaris S.A. has a market cap of $13.29 billion; its shares were traded at around $22.36 with a P/E ratio of 5.12 and P/S ratio of 1.17. The dividend yield of Tenaris S.A. stocks is 3.56%.

New Purchase: Valero Energy Corp. (VLO)

T Boone Pickens initiated holdings in Valero Energy Corp.. His purchase prices were between $31.48 and $36.62, with an estimated average price of $33.7. The impact to his portfolio due to this purchase was 3.45%. His holdings were 1,465,108 shares as of 09/30/2008.

Valero Energy Corporation owns and operates refineries in the United States and Canada with a combined throughput capacity of approximately two million BPD making it one of the nation's top refiners of petroleum products. Valero is also one of the nation's leading retail operators with retail outlets in the United States and Canada under various brand names including Diamond Shamrock Ultramar Valero Beacon and Total. Valero Energy Corp. has a market cap of $9.68 billion; its shares were traded at around $18.5 with a P/E ratio of 3.68 and P/S ratio of 0.08. The dividend yield of Valero Energy Corp. stocks is 3.12%.

New Purchase: National Oilwell Varco Inc. (NOV)

T Boone Pickens initiated holdings in National Oilwell Varco Inc.. His purchase prices were between $54.57 and $85.12, with an estimated average price of $71.2. The impact to his portfolio due to this purchase was 3.05%. His holdings were 781,391 shares as of 09/30/2008.

National-Oilwell is a worldwide leader in the design manufacture and sale of machinery and equipment and in the distribution of maintenance repair and operating products used in oil and gas drilling and production. The Company's machinery and equipment include drawworks mud pumps and power swivels which are the major mechanical components of rigs used todrill oil and gas wells. Many of these components are designed specifically for applications in offshore extended reach and deep land drilling. National Oilwell Varco Inc. has a market cap of $10.58 billion; its shares were traded at around $25.35 with a P/E ratio of 5.59 and P/S ratio of 0.84.

New Purchase: Petrohawk Energy Corp. (HK)

T Boone Pickens initiated holdings in Petrohawk Energy Corp.. His purchase prices were between $23.19 and $47.9, with an estimated average price of $33. The impact to his portfolio due to this purchase was 2.47%. His holdings were 1,465,107 shares as of 09/30/2008.

Petrohawk Energy Corporation is an independent energy company engaged in the acquisition production exploitation exploration and development of oil and gas properties. Petrohawk Energy Corp. has a market cap of $4.29 billion; its shares were traded at around $17.1 with a P/E ratio of 21.98 and P/S ratio of 3.94.

New Purchase: Westport Innovations Inc (WPRT)

T Boone Pickens initiated holdings in Westport Innovations Inc. His purchase prices were between $9.79 and $12.56, with an estimated average price of $11.6. The impact to his portfolio due to this purchase was 0.54%. His holdings were 764,427 shares as of 09/30/2008.

WESTPORT INNOVATIONS INC. is a leading global supplier of proprietary solutions that allow engines to operate on clean-burning fuels such as compressed natural gas liquefied natural gas hydrogen and biofuels such as landfill gas. Cummins Westport Inc. Westport's joint venture with Cummins Inc. manufactures and sells the world's broadest range of low-emissions alternative fuel engines for commercial transportation applications such as trucks and buses. BTIC Westport Inc. Westport's joint venture with Beijing Tianhai Industry Co. Ltd. manufactures and sells LNG fuel tanks for vehicles. Westport Innovations Inc has a market cap of $128.10 million; its shares were traded at around $4 with P/S ratio of 1.61.

Reduced: DresserRand Group Inc. (DRC)

T Boone Pickens reduced to his holdings in DresserRand Group Inc. by 78.37%. His sale prices were between $34.06 and $40.56, with an estimated average price of $37. The impact to his portfolio due to this sale was -0.4%. T Boone Pickens still held 210,307 shares as of 09/30/2008.

Dresser-Rand Group is among the largest global suppliers of rotating equipment solutions to the worldwide oil gas petrochemical and process industries. Their services and products are used for a wide range of applications including oil and gas production high-pressure field injection and enhanced oil recovery pipelines refinery processes natural gas processing and petrochemical production. DresserRand Group Inc. has a market cap of $1.41 billion; its shares were traded at around $17.2 with a P/E ratio of 8.88 and P/S ratio of 0.72.

Reduced: The Shaw Group Inc. (SGR)

T Boone Pickens reduced to his holdings in The Shaw Group Inc. by 58.14%. His sale prices were between $32.65 and $60.45, with an estimated average price of $49.7. The impact to his portfolio due to this sale was -0.47%. T Boone Pickens still held 337,218 shares as of 09/30/2008.

SHAW GROUP INC. is a worldwide provider of industrial piping systems serving primarily the electric power chemical and refining sectors. The Company primarily through its subsidiaries has facilities or offices in the United States Venezuela Bahrain and Canada. The Shaw Group Inc. has a market cap of $1.1 billion; its shares were traded at around $13.17 with a P/E ratio of 7.88 and P/S ratio of 0.16.

Reduced: Foster Wheeler Ltd. (FWLT)

T Boone Pickens reduced to his holdings in Foster Wheeler Ltd. by 62.58%. His sale prices were between $37.9 and $65.24, with an estimated average price of $51.1. The impact to his portfolio due to this sale was -0.49%. T Boone Pickens still held 279,962 shares as of 09/30/2008.

Foster Wheeler Corporation is essentially a holding company which owns the stock of various subsidiary companies. Foster Wheeler Ltd. has a market cap of $2.61 billion; its shares were traded at around $18.29 with a P/E ratio of 5.26 and P/S ratio of 0.42.

Reduced: Fluor Corp. (FLR)

T Boone Pickens reduced to his holdings in Fluor Corp. by 27.39%. His sale prices were between $55.51 and $89.81, with an estimated average price of $75.1. The impact to his portfolio due to this sale was -1.08%. T Boone Pickens still held 912,329 shares as of 09/30/2008.

FLUOR CORP-NEW is a holding company that provides services on a global basis in the fields of engineering procurement construction maintenance operations project management and business services. These services are grouped into three operating segments: Fluor Daniel Fluor Global Services and Fluor Signature Services. Fluor Daniel consists of four business units: Energy; Chemicals; Manufacturing; Life Sciences; Mining; and Infrastructure. Fluor Corp. has a market cap of $6.03 billion; its shares were traded at around $33.27 with a P/E ratio of 7.73 and P/S ratio of 0.29. The dividend yield of Fluor Corp. stocks is 1.22%.

Sold Out: KBR Inc. (KBR)

T Boone Pickens sold out his holdings in KBR Inc.. His sale prices were between $16.2 and $31.76, with an estimated average price of $24.5. The impact to his portfolio due to this sale was less than 0.01%.

KBR is a global engineering construction and services company supporting the energy petrochemicals government services and civil infrastructure sectors. The company offers a wide range of services through its Downstream Government and Infrastructure Services Technology Upstream and Ventures business segments. KBR Inc. has a market cap of $1.95 billion; its shares were traded at around $12.06 with a P/E ratio of 6.75 and P/S ratio of 0.19. The dividend yield of KBR Inc. stocks is 1.34%.

Sold Out: Jacobs Engineering Group Inc. (JEC)

T Boone Pickens sold out his holdings in Jacobs Engineering Group Inc.. His sale prices were between $55.04 and $81.41, with an estimated average price of $72.3. The impact to his portfolio due to this sale was less than 0.01%.

Jacobs Engineering Group Inc. is one of the largest professional service firms in the United States providing engineering design and consulting services; construction and construction management services; and process plant maintenance services to a broad range of industrial commercialand governmental clients. The Company provides its services through offices and subsidiaries located throughout the United States the United Kingdom and Ireland as well as through affiliated entities located throughout Europe and India. Jacobs Engineering Group Inc. has a market cap of $3.74 billion; its shares were traded at around $30.59 with a P/E ratio of 9.04 and P/S ratio of 0.32.

Sold Out: InterOil Corp. (IOC)

T Boone Pickens sold out his holdings in InterOil Corp.. His sale prices were between $25.45 and $31.24, with an estimated average price of $28.9. The impact to his portfolio due to this sale was less than 0.01%.

Interoil Corp is a vertically integrated energy company whose primary focus is Papua New Guinea and the surrounding region. Its assets comprise an oil refinery upstream petroleum exploration licenses and retail and commercial distribution assets. The majority of the refined products from InterOil's refinery are secured by off-take contracts with Shell and InterOil's wholly- owned subsidiary InterOil Products Limited. BP Singapore is InterOil's agent for crude oil supplied to the refinery. InterOil Corp. has a market cap of $344.42 million; its shares were traded at around $10.13 with P/S ratio of 0.48.

Sold Out: EOG Resources Inc. (EOG)

T Boone Pickens sold out his holdings in EOG Resources Inc.. His sale prices were between $90.65 and $120.36, with an estimated average price of $101.8. The impact to his portfolio due to this sale was less than 0.01%.

EOG Resources Inc. is engaged either directly or through a marketing subsidiary with regard to domestic operations or through various subsidiaries with regard to international operations in the exploration for and the development production and marketing of natural gas and crude oil primarily in major producing basins in the United States as well as in Canada and Trinidad. The company's business strategy is to maximize the rate of return on investment of capital by controlling all operating and capital costs. EOG Resources Inc. has a market cap of $20.6 billion; its shares were traded at around $82.53 with a P/E ratio of 8.85 and P/S ratio of 3.15. The dividend yield of EOG Resources Inc. stocks is 0.68%.

Sold Out: Chesapeake Energy Corp. (CHK)

T Boone Pickens sold out his holdings in Chesapeake Energy Corp.. His sale prices were between $37.86 and $66.65, with an estimated average price of $48.6. The impact to his portfolio due to this sale was less than 0.01%.

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 owns interests in producing oil and gas wells concentrated in three primary operating areas: the Mid-Continent region of Oklahoma western Arkansas southwestern Kansas and the Texas Panhandle; the Gulf Coast region consisting primarily of the Austin Chalk Trend in Texas and Louisiana and the Tuscaloosa Trend in Louisiana; and the Helmet area of northeastern British Columbia. Chesapeake Energy Corp. has a market cap of $12.26 billion; its shares were traded at around $21.11 with a P/E ratio of 6.45 and P/S ratio of 1.14. The dividend yield of Chesapeake Energy Corp. stocks is 1.28%.


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