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T Boone Pickens Buys Cabot Oil & Gas Corp., Questar Corp., Alpha Natural Resources Inc., Sells Peabody Energy Corp., Denbury Resources Inc.

This is the Q1 portfolio update of BP Capital, run by oil man T Boone Pickens. Oil is recovering from its March lows as dollar goes weaker. If you want to buy energy stocks, see what T Boone Pickens buys and sells.

T Boone Pickens buys Cabot Oil & Gas Corp., Questar Corp., Alpha Natural Resources Inc., CONSOL Energy Inc., Massey Energy Company, Halliburton Company, Schlumberger Ltd., Foster Wheeler Ltd., Fluor Corp., Anadarko Petroleum Corp., sells Peabody Energy Corp., Denbury Resources Inc. during the 3-months ended 03/31/2009, according to the most recent filings of his investment company, BP Capital. T Boone Pickens owns 17 stocks with a total value of $9 million. These are the details of the buys and sells.

Corrected:

New Purchases: ANR, APC, CNX, COG, FLR, FWLT, HAL, MEE, SLB, STR,

Added Positions: CHK, DVN, OXY, RIG, SU,

Sold Out: BTU, DNR,


For the details of T Boone Pickens's stock buys and sells, go to the Link Here

This is the sector weightings of T Boone Pickens's portfolio:

Utilities 5% 5%
Industrials 4.6% 4.6%
Basic Materials 11.9% 11.9%
Oil & Gas 78.5% 78.5%


[These are the top 5 holdings of T Boone Pickens

  1. Transocean Inc. (RIG) - 450,000 shares, 28.19% of the total portfolio
  2. Devon Energy Corp. (DVN) - 250,000 shares, 11.9% of the total portfolio
  3. Occidental Petroleum Corp. (OXY) - 200,000 shares, 11.85% of the total portfolio
  4. Suncor Energy Inc. (SU) - 300,000 shares, 7.09% of the total portfolio
  5. Cabot Oil & Gas Corp. (COG) - 200,000 shares, 5.02% of the total portfolio
Added: Transocean Inc. (RIG)


T Boone Pickens added to his holdings in Transocean Inc. by 50%. His purchase prices were between $50.09 and $61.46, with an estimated average price of $56.5. The impact to his portfolio due to this purchase was 9.4%. His holdings were 450,000 shares as of 03/31/2009.

Transocean LTD. formerly Transocean Inc. is an international provider of offshore contract drilling services for oil and gas wells. The company offers deepwater and harsh environment drilling oil and gas drilling management and drilling engineering and project management services as well as explores develops and produces oil and gas resources. The company is based in Houston Texas. Transocean Inc. has a market cap of $22.95 billion; its shares were traded at around $72.05 with a P/E ratio of 5.01 and P/S ratio of 1.81. Transocean Inc. had an annual average earning growth of 6% over the past 10 years.

Added: Occidental Petroleum Corp. (OXY)


T Boone Pickens added to his holdings in Occidental Petroleum Corp. by 100%. His purchase prices were between $49.74 and $57.96, with an estimated average price of $54.4. The impact to his portfolio due to this purchase was 5.93%. His holdings were 200,000 shares as of 03/31/2009.

Occidental Petroleum Corp. explores for develops produces and markets crude oil and natural gas and manufactures and markets a variety of basic chemicals including chlorine caustic soda and ethylene dichloride as well as specialty chemicals and vinyls including polyvinyl chloride resins and vinyl chloride monomer. Occidental conducts its principal operations through its oil and gas and chemical subsidiaries. Occidental Petroleum Corp. has a market cap of $50.28 billion; its shares were traded at around $62.29 with a P/E ratio of 8.56 and P/S ratio of 2.08. The dividend yield of Occidental Petroleum Corp. stocks is 2.06%. Occidental Petroleum Corp. had an annual average earning growth of 17% over the past 10 years. GuruFocus rated Occidental Petroleum Corp. the business predictability rank of 2.5-star.

Added: Devon Energy Corp. (DVN)


T Boone Pickens added to his holdings in Devon Energy Corp. by 66.67%. His purchase prices were between $39.77 and $65.31, with an estimated average price of $52.2. The impact to his portfolio due to this purchase was 4.76%. His holdings were 250,000 shares as of 03/31/2009.

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 $26.52 billion; its shares were traded at around $59.85 with a P/E ratio of 7.83 and P/S ratio of 1.74. The dividend yield of Devon Energy Corp. stocks is 1.07%. Devon Energy Corp. had an annual average earning growth of 18.1% over the past 10 years. GuruFocus rated Devon Energy Corp. the business predictability rank of 4.5-star.

Added: Suncor Energy Inc. (SU)


T Boone Pickens added to his holdings in Suncor Energy Inc. by 200%. His purchase prices were between $17.83 and $25.56, with an estimated average price of $21.6. The impact to his portfolio due to this purchase was 4.73%. His holdings were 300,000 shares as of 03/31/2009.

SUNCOR ENERGY is a world leader in mining and extracting crude oil from the vast oil sands deposits of northern Alberta. They also explore for develop and market natural gas operate a refining and marketing business in Ontario and are actively involved in the development of renewable energy sources to help meet the energy needs of tomorrow. Suncor Energy Inc. has a market cap of $29.74 billion; its shares were traded at around $31.76 with a P/E ratio of 13.02 and P/S ratio of 1.05. The dividend yield of Suncor Energy Inc. stocks is 0.63%. Suncor Energy Inc. had an annual average earning growth of 21.8% over the past 5 years.

Added: Chesapeake Energy Corp. (CHK)


T Boone Pickens added to his holdings in Chesapeake Energy Corp. by 100%. His purchase prices were between $14 and $18.52, with an estimated average price of $16.3. The impact to his portfolio due to this purchase was 1.82%. His holdings were 200,000 shares as of 03/31/2009.

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 $12.8 billion; its shares were traded at around $20.5 with a P/E ratio of 7 and P/S ratio of 1.1. The dividend yield of Chesapeake Energy Corp. stocks is 1.46%. Chesapeake Energy Corp. had an annual average earning growth of 19.6% over the past 5 years.

New Purchase: Cabot Oil & Gas Corp. (COG)


T Boone Pickens initiated holdings in Cabot Oil & Gas Corp.. His purchase prices were between $20.35 and $29.62, with an estimated average price of $24.7. The impact to his portfolio due to this purchase was 5.02%. His holdings were 200,000 shares as of 03/31/2009.

Cabot Oil & Gas Corp. is an independent oil and gas company engaged in the exploration development acquisition and exploitation of oil and gas properties located in four areas of the United States: the onshore Texas and Louisiana Gulf Coast; the Rocky Mountains; Appalachia; and the Mid-Continent or Anadarko Basin. Cabot Oil & Gas Corp. has a market cap of $3.09 billion; its shares were traded at around $29.86 with a P/E ratio of 15.47 and P/S ratio of 3.27. The dividend yield of Cabot Oil & Gas Corp. stocks is 0.4%. Cabot Oil & Gas Corp. had an annual average earning growth of 16.2% over the past 10 years. GuruFocus rated Cabot Oil & Gas Corp. the business predictability rank of 4-star.

New Purchase: Questar Corp. (STR)


T Boone Pickens initiated holdings in Questar Corp.. His purchase prices were between $25.67 and $35.91, with an estimated average price of $31.8. The impact to his portfolio due to this purchase was 5.01%. His holdings were 160,000 shares as of 03/31/2009.

Questar Corporation is a diversified energy services holding company. It has two basic divisions--Market Resources and Regulated Services. Market Resources engages in energy development and production; gas gathering andprocessing; and wholesale gas electricity and hydrocarbon liquids marketing and trading. Regulated Services conducts interstate gas transmission and storage activities and retail gas distribution services. The Company is also involved in information and communication systems and technologies. Questar Corp. has a market cap of $5.71 billion; its shares were traded at around $32.83 with a P/E ratio of 8.69 and P/S ratio of 1.65. The dividend yield of Questar Corp. stocks is 1.52%. Questar Corp. had an annual average earning growth of 15% over the past 10 years. GuruFocus rated Questar Corp. the business predictability rank of 3.5-star.

New Purchase: Alpha Natural Resources Inc. (ANR)


T Boone Pickens initiated holdings in Alpha Natural Resources Inc.. His purchase prices were between $15.9 and $22.53, with an estimated average price of $18.7. The impact to his portfolio due to this purchase was 4.35%. His holdings were 230,000 shares as of 03/31/2009.

Alpha Natural Resources is a leading Central Appalachian coal producer that also has significant operations in Northern Appalachia. Their reserves primarily consist of high Btu low sulfur steam coal and metallurgical coal. They produce process and sell steam and metallurgical coal from eight regional business units supported by active underground mines active surface mines and preparation plants located throughout Virginia West Virginia Kentucky Pennsylvania and Colorado. Alpha Natural Resources Inc. has a market cap of $1.83 billion; its shares were traded at around $25.9797 with a P/E ratio of 9.61 and P/S ratio of 0.72.

New Purchase: CONSOL Energy Inc. (CNX)


T Boone Pickens initiated holdings in CONSOL Energy Inc.. His purchase prices were between $24.8 and $33, with an estimated average price of $28.1. The impact to his portfolio due to this purchase was 4.03%. His holdings were 150,000 shares as of 03/31/2009.

CONSOL Energy Inc. is the largest producer of high-Btu bituminous coal in the United States and the largest exporter of U.S. coal. CONSOL Energy Inc. has a market cap of $6.79 billion; its shares were traded at around $37.74 with a P/E ratio of 12.2 and P/S ratio of 1.46. The dividend yield of CONSOL Energy Inc. stocks is 1.06%. CONSOL Energy Inc. had an annual average earning growth of 28.5% over the past 5 years.

New Purchase: Massey Energy Company (MEE)


T Boone Pickens initiated holdings in Massey Energy Company. His purchase prices were between $10.07 and $15.92, with an estimated average price of $13.1. The impact to his portfolio due to this purchase was 3.5%. His holdings were 325,000 shares as of 03/31/2009.

Massey Energy Company produces processes and sells bituminous low sulfur coal of steam and metallurgical grades through its processing and shipping centers. Massey Energy Company enjoys a strong market position as the low-cost producer of Central Appalachian Coal. Massey Energy's supply flexibility and controlled production costs provide our customers the security of knowing their supply will be reliable and competitive for a long time to come. Their customers know that Massey Energy has the reliability and versatility to supply solutions. Massey Energy Company has a market cap of $1.68 billion; its shares were traded at around $19.77 with a P/E ratio of 6.27 and P/S ratio of 0.56. The dividend yield of Massey Energy Company stocks is 1.22%. Massey Energy Company had an annual average earning growth of 1% over the past 5 years.

New Purchase: Halliburton Company (HAL)


T Boone Pickens initiated holdings in Halliburton Company. His purchase prices were between $15.12 and $19.6, with an estimated average price of $17.3. The impact to his portfolio due to this purchase was 3.29%. His holdings were 200,000 shares as of 03/31/2009.

Halliburton Company provides a variety of services equipment maintenance and engineering and construction to energy industrial and governmental customers. The company is made up of the following three business segments: Energy Services Group Engineering and Construction Group and Dresser Equipment Group. Halliburton Company has a market cap of $19.11 billion; its shares were traded at around $21.3 with a P/E ratio of 7.8 and P/S ratio of 1.05. The dividend yield of Halliburton Company stocks is 1.69%. Halliburton Company had an annual average earning growth of 58.3% over the past 5 years.

New Purchase: Schlumberger Ltd. (SLB)


T Boone Pickens initiated holdings in Schlumberger Ltd.. His purchase prices were between $36.73 and $45.06, with an estimated average price of $40.5. The impact to his portfolio due to this purchase was 3.24%. His holdings were 75,000 shares as of 03/31/2009.

Schlumberger Limited is a global technology services company consisting of two business segments Schlumberger Oilfield Services and SchlumbergerSema. Schlumberger Oilfield Services is the leading provider of exploration and production services solutions and technology to the international petroleum industry. SchlumbergerSema is a leading information technology services company providing a unique combination of domain expertise and global capabilities delivered on a local basis. Schlumberger Ltd. has a market cap of $61.9 billion; its shares were traded at around $51.95 with a P/E ratio of 12.26 and P/S ratio of 2.28. The dividend yield of Schlumberger Ltd. stocks is 1.62%. Schlumberger Ltd. had an annual average earning growth of 58.5% over the past 5 years.

New Purchase: Foster Wheeler Ltd. (FWLT)


T Boone Pickens initiated holdings in Foster Wheeler Ltd.. His purchase prices were between $15.04 and $26.31, with an estimated average price of $20.4. The impact to his portfolio due to this purchase was 2.46%. His holdings were 132,000 shares as of 03/31/2009.

Foster Wheeler AG formerly Foster Wheeler Limited along with its subsidiaries provide construction and engineering services to the oil and gas oil refining chemical/petrochemical pharmaceutical environmental and power plant operation and maintenance sectors worldwide. It operates through two business groups the Global Engineering & Construction Group (E&C) and the Global Power Group. The former Group designs engineers and constructs onshore and offshore upstream oil and gas processing facilities; natural gas liquefaction facilities and receiving terminals; gas-to-liquids facilities; oil refining; and chemical petrochemical pharmaceutical biotechnology healthcare and related infrastructure facilities. The Global Power Group designs manufactures and erects steam generating and auxiliary equipment for electric power generating stations and industrial facilities. The company focuses on safely delivering cost-effective technically-advanced services facilities and Foster Wheeler Ltd. has a market cap of $3.04 billion; its shares were traded at around $24.14 with a P/E ratio of 6.88 and P/S ratio of 0.44.

New Purchase: Fluor Corp. (FLR)


T Boone Pickens initiated holdings in Fluor Corp.. His purchase prices were between $31.75 and $48.5, with an estimated average price of $39.3. The impact to his portfolio due to this purchase was 2.17%. His holdings were 59,000 shares as of 03/31/2009.

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 $7.92 billion; its shares were traded at around $43.62 with a P/E ratio of 10.79 and P/S ratio of 0.35. The dividend yield of Fluor Corp. stocks is 1.15%. Fluor Corp. had an annual average earning growth of 19.4% over the past 5 years.

New Purchase: Anadarko Petroleum Corp. (APC)


T Boone Pickens initiated holdings in Anadarko Petroleum Corp.. His purchase prices were between $32.98 and $41.67, with an estimated average price of $37.9. The impact to his portfolio due to this purchase was 2.07%. His holdings were 50,000 shares as of 03/31/2009.

Anadarko Petroleum Corporation is one of the world's largest independentoil and gas exploration and production companies. Majority of the company'stotal proved reserves are located in the U.S. primarily in the mid-continent (Kansas Oklahoma and Texas) area offshore in the Gulf of Mexico and in Alaska. Most of the company's production is domestic and the remainder is from Algeria. The company also owns and operates gas gathering systems in its U.S. core producing areas. Anadarko Petroleum Corp. has a market cap of $20.24 billion; its shares were traded at around $43.25 with a P/E ratio of 14.38 and P/S ratio of 1.29. The dividend yield of Anadarko Petroleum Corp. stocks is 0.83%. Anadarko Petroleum Corp. had an annual average earning growth of 28% over the past 10 years. GuruFocus rated Anadarko Petroleum Corp. the business predictability rank of 3.5-star.

Sold Out: Peabody Energy Corp. (BTU)


T Boone Pickens sold out his holdings in Peabody Energy Corp.. His sale prices were between $21.79 and $28.77, with an estimated average price of $25.2. The impact to his portfolio due to this sale was less than 0.01%.

Peabody Energy is the largest private-sector coal company in the world. They offer a broad portfolio of coal supplies including coal produced from operations that Peabody Energy manages or owns majority interests in along with brokered coal secured by Peabody Coaltrade. Peabody Energy Corp. has a market cap of $8.21 billion; its shares were traded at around $30.75 with a P/E ratio of 10.62 and P/S ratio of 1.24. The dividend yield of Peabody Energy Corp. stocks is 0.78%. Peabody Energy Corp. had an annual average earning growth of 19.9% over the past 5 years.

Sold Out: Denbury Resources Inc. (DNR)


T Boone Pickens sold out his holdings in Denbury Resources Inc.. His sale prices were between $10.76 and $15.69, with an estimated average price of $13.1. The impact to his portfolio due to this sale was less than 0.01%.

Denbury Resources Inc. is a Canadian corp. organized under the Canada Business Corp Act engaged in the acquisition development operation and exploration of oil and gas properties primarily in the Gulf Coast region of the U.S. through its wholly-owned subsidiary Denbury Management Inc. Denbury's production is primarily from developed fields close to major pipelines or refineries and established infrastructure. As a result Denbury has not experienced any difficulty in finding a market for all of its product as it becomes available or in transporting its product to these markets. Denbury Resources Inc. has a market cap of $3.98 billion; its shares were traded at around $16.03 with a P/E ratio of 11.87 and P/S ratio of 2.91. Denbury Resources Inc. had an annual average earning growth of 14.9% over the past 10 years. GuruFocus rated Denbury Resources Inc. the business predictability rank of 3-star.



Rating: 2.6/5 (18 votes)

Comments

exile_ken
Exile_ken - 5 years ago
I believe there are serious errors in the list above. When one compares the information above to the 13K on file with the SEC http://www.sec.gov/Archives/edgar/data/1218269/000136231009007581/c85596e13fvhr.txt, it appears that the person who compiled the information in the Pickens list of portfolio changes dropped a 0 in reporting the current shares owned. For instance, It the list above states that Pickens reduced his holdings in Transocean (RIG) to 45,000, a reduction of nearly 85% from the previous level of 300,000 shares. However, the 13K shows that Pickens owned 450,000 shares of Transocean on 3/31/09, which would mean he added 50% to his position, rather than an 85% reduction. This error appears consistent for all of the share counts, with the exception of the two sold out positions, which of course are 0. Is it me, or does this information need to be corrected?
exile_ken
Exile_ken - 5 years ago
For some reason, when I submitted the post above the link to the BP Capital Management 13K form was shortened to the WWW.SEC.gov link that appears. The Inoculated Investor blog also has this information, along with the full url to the 13k on the SEC site. [inoculatedinvestor.blogspot.com]
gurufocus
Gurufocus premium member - 5 years ago
You are right, Excile_ken. We dropped a 0 in the process somehow. Corrected.

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