FPA Capital Fund (Trades, Portfolio) has a concentrated portfolio and invests primarily in undervalued small-to-mid cap companies. During the first quarter, the firm sold shares in the following stocks:
The fund reduced its stake in Apollo Education Group Inc. Class A. (APOL) by 32.18%, with an impact of -1.77% on the portfolio.
The company is a private education service provider offering undergraduate, graduate, professional development & other non-degree educational programs and services.
Third quarter net revenue was $558.0 million compared to $676.4 million for the third quarter of 2015 and adjusted EBITDA was $90.7 million, compared to $132.2 million for the same quarter of 2015.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10 with ROE of -10.81% and ROA of 5.53%, which are underperforming 83% of the companies in the Global Education & Training Services industry. Financial strength has a rating of 7 out of 10, with cash to debt of 8.39, below the industry median of 3.78.
The largest shareholder among the gurus is First Pacific Advisors (Trades, Portfolio) with 6.8% of outstanding shares, followed by Donald Yacktman (Trades, Portfolio) with 1.95%, Yacktman Fund (Trades, Portfolio) with 1.72%, Joel Greenblatt (Trades, Portfolio) with 1.48% and Jim Simons (Trades, Portfolio) with 0.99%.
The firm reduced its stake in Rowan Companies PLC. (RDC) by 21.16%, with an impact of -0.98% on the portfolio.
The company provides offshore oil and gas contract drilling services utilizing a fleet of 30 self-elevating mobile offshore "jack-up" drilling units and four ultra-deepwater drillships.
First quarter net income was $0.98 per share, compared to $0.99 per share in the first quarter of 2015 and revenue decreased 9% year to year, due to lower utilization of jack-up rigs.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 1.92% and ROA of 1.09% that are outperforming 71% of the companies in the Global Oil & Gas Drilling industry. Financial strength has a rating of 5 out of 10, with cash to debt 0.22.
First Pacific Advisors (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 2.77% of outstanding shares followed by Joel Greenblatt (Trades, Portfolio) with 1.09%, Richard Pzena (Trades, Portfolio) with 0.79%, Hotchkis & Wiley with 0.39% and Jim Simons (Trades, Portfolio) with 0.37%.
The fund reduced its stake in SM Energy Co. (SM) by 34.16%, with an impact of -0.94% on the portfolio.
The company is an energy company engaged in the acquisition, exploration, development, and production of oil, gas, and NGLs in onshore North America.
First quarter general and administrative expenses decreased 26% compared with the first quarter of 2015 and was down 4% sequentially. Net loss for the first quarter was $5.10 per diluted common share, compared with a net loss of $0.79 per diluted common share, in the first quarter of 2015.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of -37.20% which is underperforming and ROA of -12.42% which is outperforming 52% of the companies in the Global Oil & Gas E&P industry. Financial strength has a rating of 4 out of 10, with cash to debt of 0.29, Â which is below the industry median of 0.50.
The largest shareholder among the gurus is Sarah Ketterer (Trades, Portfolio) with 6.2% of outstanding shares followed by Arnold Schneider (Trades, Portfolio) with 3.37%, First Pacific Advisors (Trades, Portfolio) with 2.21%, FPA Capital Fund (Trades, Portfolio) with 0.76% and Jim Simons (Trades, Portfolio) with 0.3%.
The firm reduced its stake in Arrow Electronics Inc. (ARW) by 18.00%, with an impact of -0.8% on the portfolio.
The company is a provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions.
During the first quarter, net income was $1.14 per share on a diluted basis, compared with a net income of $1.09 per share on a diluted basis, in the first quarter of 2015. The company reported an increase of 9% for sales.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 11.99% and ROA of 4.11% which are outperforming 59% of the companies in the Global Electronics Distribution industry. Financial strength has a rating of 6 out of 10, with cash to debt 0.15,which is below the industry median of 1.45.
Jeremy Grantham (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 0.86% of outstanding shares followed by First Pacific Advisors (Trades, Portfolio) with 0.79%, Joel Greenblatt (Trades, Portfolio) with 0.33%, Richard Pzena (Trades, Portfolio) with 0.33% and Scott Black (Trades, Portfolio) with 0.04%.
The fund reduced its stake in Patterson-UTI Energy Inc. (PTEN) by 11.60%, with an impact of -0.78% on the portfolio.
The company is a provider of contract services to the oil and natural gas industry. It operates in three segments namely contract drilling services, pressure pumping services, and oil and natural gas exploration and production.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of -13.77% and ROA of -7.83%, which are underperforming 55% of the companies in the Global Oil & Gas Drilling industry. Financial strength has a rating of 5 out of 10, with cash to debt of 0.22.
The largest shareholder among the gurus is First Pacific Advisors (Trades, Portfolio) with 2.87% of outstanding shares followed by Kahn Brothers (Trades, Portfolio) with 0.72%, Jim Simons (Trades, Portfolio) with 0.57%, T Boone Pickens (Trades, Portfolio) with 0.19%and Steven Cohen (Trades, Portfolio) with 0.12%.
The firm reduced its stake in Helmerich & Payne Inc. (HP) by 12.32%, with an impact of -0.7% on the portfolio.
The company is engaged in contract drilling of oil & gas wells for others in the ownership, development & operation of commercial real estates. Its business comprises of three reportable segments: U.S. Land, Offshore & International Land.
First quarter net income was $0.19 per diluted share from operating revenues of $438 million compared to net income of $1.41 per diluted share, as adjusted from operating revenues of $886 million during the second quarter of fiscal 2015.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 2.17% and ROA of 1.48%, which are outperforming 73% of the companies in the Global Oil & Gas Drilling industry. Financial strength has a rating of 7 out of 10, with cash to debt 1.77, which is below the industry median of 0.22.
First Pacific Advisors (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 0.94% of outstanding shares followed by Chuck Royce (Trades, Portfolio) with 0.76%, Ken Fisher (Trades, Portfolio) with 0.37%, Pioneer Investments (Trades, Portfolio) with 0.37% and Prem Watsa (Trades, Portfolio) with 0.32%.
The fund reduced its stake in Noble Energy Inc. (NBL) by 3.83%, with an impact of -0.21% on the portfolio.
The company is an independent energy company. It is engaged in crude oil, natural gas and natural gas liquids (NGLs), exploration and production.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with ROE of -24.41%, which is underperforming and ROA of -11.32%, which is outperforming 54% of the companies in the Global Oil & Gas E&P industry. Financial strength has a rating of 4 out of 10, with cash to debt of 0.12, which is below the industry median of 0.48.
The largest shareholder among the gurus is Steven Cohen (Trades, Portfolio) with 0.75% of outstanding shares followed by PRIMECAP Management (Trades, Portfolio) with 0.59%, First Pacific Advisors (Trades, Portfolio) with 0.46%, RS Investment Management (Trades, Portfolio) with 0.38%, Meridian Funds (Trades, Portfolio) with 0.12% and Jim Simons (Trades, Portfolio) with 0.06%.
