Robert L. Rodriguez is the Chief Executive Officer of FPA Capital. The following are the firm’s largest trades of the second quarter:
The company reduced its stake in Occidental Petroleum Corp. (OXY) by 77.46%, with an impact of -1.67% on the portfolio.
The company is a multinational organization whose subsidiaries and affiliates operate in the oil and gas, chemical and midstream, marketing and other segments.
Second quarter-end cash balance of $3.8 billion, an increase of nearly $600 million from the first quarter and permian resources production increased to 126,000 BOE per day for year-over-year growth of 17,000 BOE per day or 16%.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10, with ROE of -29.19% and ROA of -16.89%, which are underperforming 56% of the companies in the Global Oil & Gas E&P industry. Financial strength has a rating of 5 out of 10, with a cash to debt ratio of 0.45.
The largest shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with 2.49% of outstanding shares, followed by Chris Davis (Trades, Portfolio) with 1.1%, T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.28% and NWQ Managers (Trades, Portfolio) with 0.18%.
The company bought 20,380,574 shares in Nexeo Solutions Inc. (NXEO), with an impact of 1.55% on the portfolio.
It was incorporated in Delaware on March 24, 2014. The company is a blank check development stage company. Third quarter revenues decreased 13% and gross profit for the predecessor had a decrease of 15% from the prior year. Gross profit margin decreased 40 bps, but improved 40 bps after adjusting for merger-related items.
GuruFocus gives the stock a profitability and growth rating of 3 out of 10, with ROE of -11.34% and ROA of -2.08%, which are underperforming 88% of the companies in the Global Chemicals industry. Financial strength has a rating of 3 out of 10, with a cash to debt ratio of 0.05, which is below the industry median of 0.83.
First Pacific Advisors (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 22.83% of outstanding shares, followed by Steven Romick (Trades, Portfolio) with 19.81% and Louis Moore Bacon (Trades, Portfolio) with 0.3%.
The company reduced its stake in Aon PLC. (AON) by 14.75%, with an impact of -0.99% on the portfolio.
The company provides risk management services, insurance and reinsurance brokerage and human resource consulting and outsourcing, delivering distinctive client value via effective risk management and workforce productivity solutions. During the second quarter, earnings-per-share grew 6% year-over-year, but net income did not change.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10, with ROE of 25.13% and ROA of 5.35%, which are outperforming 77% of the companies in the Global Insurance Brokers industry. Financial strength has a rating of 5 out of 10, with a cash to debt ratio of 0.11, Â below the industry median of 9,999.0.
The largest shareholder among the gurus is Steven Romick (Trades, Portfolio) with 1.74% of outstanding shares, followed by Bill Nygren (Trades, Portfolio) with 1.14%, NWQ Managers (Trades, Portfolio) with 0.43%, Andreas Halvorsen (Trades, Portfolio) with 0.27% and Wallace Weitz (Trades, Portfolio) with 0.21%.
The company raised his stake in Bank of America Corporation. (BAC) by 24.26%, with an impact of 0.72% on the portfolio.
The company is a bank holding and financial holding company. Through its subsidiaries, it provides banking and non-banking financial services and products throughout the United States and in selected international markets. It reporter second quarter noninterest income of $11.2 billion, compared to $11.5 billion and it reported revenue of $20.4 billion, compared to $22.0 billion.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10, with ROE of 5.02% and ROA of 0.67%, which are underperforming 74% of the companies in the Global Banks - Global industry. Financial strength has a rating of 5 out of 10, with a cash to debt ratio 0.68, which is below the industry median of 2.48.
Dodge & Cox is the largest shareholder of the company among the gurus, with 2.18% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 0.82%, HOTCHKIS & WILEY with 0.59% and Ken Fisher (Trades, Portfolio) with 0.42%.
The company raised his stake in Citigroup Inc. (C) by 14.79%, with an impact of 0.68% on the portfolio.
It is a financial services holding company. It provides financial products and services, including consumer banking, credit cards, corporate and investment banking, securities brokerage and wealth management.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10, with ROE of 6.22% and ROA of 0.84%, which are underperforming 66% of the companies in the Global Banks - Global industry. Financial strength has a rating of 5 out of 10, with a cash to debt ratio of 0.67, below the industry median of 2.48.
The largest shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with 0.72% of outstanding shares, followed by HOTCHKIS & WILEY with 0.62%, Ken Fisher (Trades, Portfolio) with 0.41%, Steven Romick (Trades, Portfolio) with 0.38%, Diamond Hill Capital (Trades, Portfolio) with 0.35% and Richard Pzena (Trades, Portfolio) with 0.33%.
The company increased its shares in Baidu Inc ADR. (BIDU) by 749.73%, with an impact of 0.51% on the portfolio.
It is a Chinese language internet search provider. The company offers a Chinese-language search platform on its website, Baidu.com.
Second quarter revenue grew 10.2% from the same quarter a year before and had a 16.3% year-over-year increase. The company reported a 17.4% decrease of operating profit.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10, with ROE of 43.35% and ROA of 22.61%, which are outperforming 94% of the companies in the Global Internet Content & Information industry. Financial strength has a rating of 7 out of 10, with a cash to debt ratio of 1.94, below the industry median of 9.95.
Frank Sands (Trades, Portfolio) is the main shareholder of the company among the gurus, with 2.15% of outstanding shares, followed by Dodge & Cox with 1.58%, Sarah Ketterer (Trades, Portfolio) with 0.79%, Ruane Cunniff (Trades, Portfolio) with 0.75% and David Herro (Trades, Portfolio) with 0.6%.
The company raised its stake Microsoft Corp. (MSFT) by 7.71%, with an impact of 0.32% on the portfolio.
The company is engaged in designing, manufacturing and selling devices and online advertising. Its products include operating systems for computing devices, servers, phones and other devices.
In the fourth quarter, Microsoft returned $6.4 billion to shareholders in the form of share repurchases and dividends, revenue was $20.6 billion GAAP and $22.6 billion non-GAAP.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10, with ROE of 21.64% and ROA of 9.13%, which are outperforming 79% of the companies in the Global Software - Infrastructure industry. Financial strength has a rating of 6 out of 10, with a cash to debt ratio of 2.11, below the industry median of 10.15.
The largest shareholder among the gurus is PRIMECAP Management (Trades, Portfolio) with 0.75% of outstanding shares, followed by Jeff Ubben (Trades, Portfolio) with 0.73%, Dodge & Cox with 0.66%, Steve Mandel (Trades, Portfolio) with 0.33% and Barrow, Hanley, Mewhinney & Strauss with 0.32%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
Start a free 7-day trial of Premium Membership to GuruFocus.
