T Boone Pickens Buys Chesapeake Energy Corp., Devon Energy Corp., Halliburton Company., Tenaris S.A., Sells Titanium Metals Corp.

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gurufocus
Aug 18, 2008
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As oil prices decline, energy stocks lost their multi-year uptrend and come down quickly. But oil man billionaire T Boone Pickens is buying more. If you like to buy more energy stocks, see what T Boone Pickens is buying. T Boone Pickens owns 27 stocks with a total value of $2.1 billion. These are his buys and sells during the second quarter.


T Boone Pickens buys Chesapeake Energy Corp., Devon Energy Corp., Tenaris S.A., EOG Resources Inc., BPZ RESOURCES, INC, sells Titanium Metals Corp. during the 3-months ended 06/30/2008, according to the most recent filings of his investment company, BP Capital. T Boone Pickens owns 27 stocks with a total value of $2.1 billion. These are the details of the buys and sells.





New Purchases: BZP, CHK, DVN, EOG, TS,


Added Positions: ABB, DNR, FLR, HAL, JEC, OXY, RIG, SGR, SLB, SU, TLM, WFT, XTO,


Sold Out: TIE,





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: Halliburton Company (HAL, Financial)


T Boone Pickens added to his holdings in Halliburton Company by 65.78%. His purchase prices were between $40.99 and $52.16, with an estimated average price of $47.5. The impact to his portfolio due to this purchase was 2.43%. His holdings were 2,447,470 shares as of 06/30/2008.


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 $38.24 billion; its shares were traded at around $43.61 with a P/E ratio of 15.90 and P/S ratio of 2.35. The dividend yield of Halliburton Company stocks is 0.83%.


Added: Weatherford International Ltd. (WFT, Financial)


T Boone Pickens added to his holdings in Weatherford International Ltd. by 75.22%. His purchase prices were between $37.33 and $48.46, with an estimated average price of $42.8. The impact to his portfolio due to this purchase was 1.94%. His holdings were 1,928,785 shares as of 06/30/2008.


Weatherford International is one of the world's leading providers ofequipment and services used for the drilling completion and production of oil and natural gas wells. Its operations are conducted in numerous countries and it has service and sales locations in substantially all of the oil and natural gas producing regions in the world. The company's products and services are divided into the following four principal operating divisions: Drilling and Intervention Services; Completion Systems; Artificial Lift Systems; and Compression Services. Weatherford International Ltd. has a market cap of $24.88 billion; its shares were traded at around $36.56 with a P/E ratio of 20.28 and P/S ratio of 3.01.


Added: XTO Energy Inc. (XTO, Financial)


T Boone Pickens added to his holdings in XTO Energy Inc. by 66.67%. His purchase prices were between $62.07 and $70.1, with an estimated average price of $65.4. The impact to his portfolio due to this purchase was 1.54%. His holdings were 1,194,614 shares as of 06/30/2008.


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 $25.15 billion; its shares were traded at around $45.79 with a P/E ratio of 11.94 and P/S ratio of 3.85. The dividend yield of XTO Energy Inc. stocks is 1.05%.


Added: Schlumberger Ltd. (SLB, Financial)


T Boone Pickens added to his holdings in Schlumberger Ltd. by 11.62%. His purchase prices were between $90.42 and $105.9, with an estimated average price of $100.6. The impact to his portfolio due to this purchase was 0.68%. His holdings were 1,286,291 shares as of 06/30/2008.


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 $109.73 billion; its shares were traded at around $91.47 with a P/E ratio of 20.50 and P/S ratio of 4.48. The dividend yield of Schlumberger Ltd. stocks is 0.92%.


Added: Talisman Energy Inc. (TLM, Financial)


T Boone Pickens added to his holdings in Talisman Energy Inc. by 19.82%. His purchase prices were between $18.94 and $23.96, with an estimated average price of $21.8. The impact to his portfolio due to this purchase was 0.61%. His holdings were 3,627,183 shares as of 06/30/2008.


Talisman Energy Inc. has a market cap of $16.84 billion; its shares were traded at around $16.53 with a P/E ratio of 9.58 and P/S ratio of 1.96. The dividend yield of Talisman Energy Inc. stocks is 1.22%.


Added: The Shaw Group Inc. (SGR, Financial)


T Boone Pickens added to his holdings in The Shaw Group Inc. by 17.67%. His purchase prices were between $49.27 and $64.07, with an estimated average price of $57.3. The impact to his portfolio due to this purchase was 0.35%. His holdings were 805,641 shares as of 06/30/2008.


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 $4.16 billion; its shares were traded at around $49.87 with a P/E ratio of 63.05 and P/S ratio of 0.63.


Added: Occidental Petroleum Corp. (OXY, Financial)


T Boone Pickens added to his holdings in Occidental Petroleum Corp. by 2.88%. His purchase prices were between $76.48 and $94.66, with an estimated average price of $86.7. The impact to his portfolio due to this purchase was 0.24%. His holdings were 2,055,382 shares as of 06/30/2008.


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 $61.86 billion; its shares were traded at around $75.71 with a P/E ratio of 9.09 and P/S ratio of 2.71. The dividend yield of Occidental Petroleum Corp. stocks is 1.69%.


Added: Transocean Inc. (RIG, Financial)


T Boone Pickens added to his holdings in Transocean Inc. by 2.88%. His purchase prices were between $143.5 and $160.54, with an estimated average price of $150.9. The impact to his portfolio due to this purchase was 0.22%. His holdings were 1,116,650 shares as of 06/30/2008.


Transocean Inc. provides offshore contract drilling services for oil and gas exploration development and production. The company's core business is to contract these drilling rigs related equipment and work crews primarily on a dayrate basis to drill offshore wells. It specializes in technically demanding segments of the offshore drilling business with a particular focus on deepwater and harsh environment drilling services. The company also provides additional services including international turnkey drilling and management of third-party well service activities. Transocean Inc. has a market cap of $40.27 billion; its shares were traded at around $126.24 with a P/E ratio of 8.08 and P/S ratio of 4.19.


Added: Suncor Energy Inc. (SU, Financial)


T Boone Pickens added to his holdings in Suncor Energy Inc. by 2.88%. His purchase prices were between $50.99 and $71.06, with an estimated average price of $61.2. The impact to his portfolio due to this purchase was 0.19%. His holdings were 2,583,949 shares as of 06/30/2008.


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 $47.15 billion; its shares were traded at around $50.48 with a P/E ratio of 16.54 and P/S ratio of 2.60. The dividend yield of Suncor Energy Inc. stocks is 0.4%.


Added: Fluor Corp. (FLR, Financial)


T Boone Pickens added to his holdings in Fluor Corp. by 2.88%. His purchase prices were between $74.63 and $95.78, with an estimated average price of $86.4. The impact to his portfolio due to this purchase was 0.15%. His holdings were 1,256,552 shares as of 06/30/2008.


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 $12.77 billion; its shares were traded at around $71.36 with a P/E ratio of 18.74 and P/S ratio of 0.68. The dividend yield of Fluor Corp. stocks is 0.7%.


Added: Denbury Resources Inc. (DNR, Financial)


T Boone Pickens added to his holdings in Denbury Resources Inc. by 2.88%. His purchase prices were between $29.49 and $37.6, with an estimated average price of $33.3. The impact to his portfolio due to this purchase was 0.15%. His holdings were 3,159,433 shares as of 06/30/2008.


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 $5.92 billion; its shares were traded at around $23.99 with a P/E ratio of 16.86 and P/S ratio of 4.62.


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


T Boone Pickens added to his holdings in Jacobs Engineering Group Inc. by 2.88%. His purchase prices were between $77.23 and $96.45, with an estimated average price of $87.5. The impact to his portfolio due to this purchase was 0.1%. His holdings were 934,433 shares as of 06/30/2008.


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 $9.15 billion; its shares were traded at around $74.72 with a P/E ratio of 23.74 and P/S ratio of 0.91.


Added: ABB Ltd. (ABB, Financial)


T Boone Pickens added to his holdings in ABB Ltd. by 2.88%. His purchase prices were between $26.14 and $32.22, with an estimated average price of $29.7. The impact to his portfolio due to this purchase was 0.1%. His holdings were 2,786,802 shares as of 06/30/2008.


ABB is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs more than 110000 people. ABB Ltd. has a market cap of $54.98 billion; its shares were traded at around $24.05 with a P/E ratio of 12.40 and P/S ratio of 1.67. The dividend yield of ABB Ltd. stocks is 1.95%.


New Purchase: Chesapeake Energy Corp. (CHK)


T Boone Pickens initiated holdings in Chesapeake Energy Corp.. His purchase prices were between $46.36 and $64.09, with an estimated average price of $55.3. The impact to his portfolio due to this purchase was 5.72%. His holdings were 1,838,129 shares as of 06/30/2008.


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 $26.37 billion; its shares were traded at around $45.53 with P/S ratio of 5.10. The dividend yield of Chesapeake Energy Corp. stocks is 0.66%.


New Purchase: Devon Energy Corp. (DVN)


T Boone Pickens initiated holdings in Devon Energy Corp.. His purchase prices were between $107.19 and $121.21, with an estimated average price of $115.5. The impact to his portfolio due to this purchase was 4.79%. His holdings were 845,946 shares as of 06/30/2008.


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 $41.51 billion; its shares were traded at around $93.95 with a P/E ratio of 10.33 and P/S ratio of 2.95. The dividend yield of Devon Energy Corp. stocks is 0.68%.


New Purchase: Tenaris S.A. (TS)


T Boone Pickens initiated holdings in Tenaris S.A.. His purchase prices were between $50.26 and $72.29, with an estimated average price of $58.4. The impact to his portfolio due to this purchase was 3.89%. His holdings were 1,106,394 shares as of 06/30/2008.


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 $30.07 billion; its shares were traded at around $51.16 with a P/E ratio of 12.54 and P/S ratio of 2.84. The dividend yield of Tenaris S.A. stocks is 1.49%.


New Purchase: EOG Resources Inc. (EOG)


T Boone Pickens initiated holdings in EOG Resources Inc.. His purchase prices were between $123.54 and $140.85, with an estimated average price of $131.4. The impact to his portfolio due to this purchase was 1.99%. His holdings were 322,266 shares as of 06/30/2008.


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 $23.79 billion; its shares were traded at around $95.6 with a P/E ratio of 24.35 and P/S ratio of 4.41. The dividend yield of EOG Resources Inc. stocks is 0.5%.


New Purchase: BPZ RESOURCES, INC (BZP)


T Boone Pickens initiated holdings in BPZ RESOURCES, INC. His purchase prices were between $18.04 and $28.32, with an estimated average price of $22.6. The impact to his portfolio due to this purchase was 0.49%. His holdings were 350,000 shares as of 06/30/2008.


BPZ Resources is an oil and gas exploration and production company with properties in northwest Peru and Ecuador. BPZ RESOURCES, INC has a market cap of $1.3 billion; its shares were traded at around $16.98 with P/S ratio of 195.88.


Sold Out: Titanium Metals Corp. (TIE)


T Boone Pickens sold out his holdings in Titanium Metals Corp.. His sale prices were between $14.07 and $18.15, with an estimated average price of $16.5. The impact to his portfolio due to this sale was less than 0.01%.


Titanium Metals Corporation is an integrated producers of titanium sponge melted and mill products. They are the only integrated producer with major titanium production facilities in both the United States and Europe. Titanium Metals Corp. has a market cap of $2.02 billion; its shares were traded at around $11.13 with a P/E ratio of 10.13 and P/S ratio of 1.76. The dividend yield of Titanium Metals Corp. stocks is 2.7%.


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