T. Boone Pickens, who made his name and his fortune in the oil business, added to seven energy stakes in his portfolio during the third quarter.
Oil prices continued to slide Monday, slumping more than 3% while gasoline futures dropped more than 2%. Pickens hasnāt backpedaled from his bullish assertion that oil prices will rebound, but he has been sounding less confident in his prediction.
āI feel a little bit like the guy that falls off the 10-story building,ā Pickens said last month. āWhen he went by the fifth floor, he said, āSo far so good.āā
Pickens acquired 3,440 shares of Pioneer Natural Resources Co. (PXD, Financial), an Irving, Texas-based oil and gas company, for an average price of $124.62 per share. The purchase had a 1.13% impact on Pickensā portfolio and increased his stake by more than 8%.
Pioneer Natural Resources has a market cap of $18.13 billion and an enterprise value of $20.23 billion. It has a P/E of 23.2, a P/B of 2.0 and a P/S of 4.0. GuruFocus has given Pioneer Natural Resources a Financial Strength rating of 5/10 and a Profitability and Growth rating of 9/10.
Steven Cohen (Trades, Portfolio), Seth Klarman (Trades, Portfolio), Andreas Halvorsen (Trades, Portfolio), Jim Simons (Trades, Portfolio) and Ray Dalio (Trades, Portfolio) also added to existing stakes in Pioneer Natural Resources in their portfolios.
Pioneer Natural Resources sold for $121.58 per share Monday.
Pickens bought 26,928 shares of Parsley Energy Inc. (PE, Financial), an oil and gas company with offices in Midland, Texas, and Austin, Texas, for an average price of $15.54 per share. The deal had a 1.09% impact on Pickensā portfolio and raised his stake by nearly 23%.
Parsley Energy has a market cap of $2.66 billion and an enterprise value of $3.41 billion. It has a P/E of 142.4, a forward P/E of 3333.3, a P/B of 2.5 and a P/S of 6.4. GuruFocus has given Parsley Energy a Financial Strength rating of 6/10 and a Profitability and Growth rating of 4/10.
Steven Cohen (Trades, Portfolio) and Jim Simons (Trades, Portfolio) also added to their stakes in Parsley Energy.
Parsley Energy sold for $17.22 per share Monday.
Pickens increased his stake in EOG Resources Inc. (EOG, Financial), a Houston-based oil and gas company, by more than 16% with the purchase of 5,031 shares for an average price of $77.7 per share. The transaction had a 0.99% impact on Pickensā portfolio.
EOG Resources has a market cap of $38.67 billion and an enterprise value of $44.36 billion. It has a forward P/E of 277.8, a P/B of 2.9 and a P/S of 3.3. GuruFocus has given EOG Resources a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.
Diamond Hill Capital (Trades, Portfolio), Pioneer Investments (Trades, Portfolio) and Ray Dalio (Trades, Portfolio) also added to their stakes in EOG Resources.
EOG Resources sold for $70.49 per share Monday.
Pickens purchased 35,294 shares of Wpx Energy Inc. (WPX, Financial), a Tulsa, Oklahoma-based oil and gas extraction company, for an average price of $8.36 per share. The deal had a 0.63% impact on Pickensā portfolio and increased Pickensā stake by more than 165%.
Wpx Energy has a market cap of $1.43 billion and an enterprise value of $5.07 billion. It has a P/E of 20.2, a forward P/E of 172.4, a P/B of 0.3 and a P/S of 0.5.
Steven Cohen (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) also added to their stakes in Wpx Energy.
Wpx Energy sold for $5.2 per share Monday.
Pickens added 703 shares to his stake in Cimarex Energy Co. (XEC, Financial), a Denver-based oil and gas company, for an average price of $106.51 per share. The transaction had a 0.19% impact on Pickensā portfolio.
Cimarex Energy has a market cap of $8.44 billion and an enterprise value of $9.04 billion. It has a forward P/E of 303.0, a P/B of 2.5 and a P/S of 4.7. GuruFocus has given Cimarex Energy a Financial Strength rating of 5/10 and a Profitability and Growth rating of 7/10.
Diamond Hill Capital (Trades, Portfolio), FPA Capital Fund (Trades, Portfolio), Columbia Wanger (Trades, Portfolio), Jim Simons (Trades, Portfolio), First Pacific Advisors (Trades, Portfolio) and Pioneer Investments (Trades, Portfolio) added to their stakes in Cimarex Energy in the third quarter.
Cimarex Energy sold for $89.3 per share Monday.
Pickens purchased 678 shares of Concho Resources Inc. (CXO, Financial), a Midland, Texas-based oil and gas company, for an average price of $104.84 per share. The deal had a 0.18% impact on Pickensā portfolio and raised his stake by nearly 18%.
Concho Resources has a market cap of $11.7 billion and an enterprise value of $15.52 billion. It has a P/E of 53.6, a forward P/E of 161.3, a P/B of 1.8 and a P/S of 5.2. GuruFocus has given Concho Resources a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.
Steven Cohen (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) also added to their stakes in Concho Resources in the third quarter.
Concho Resources sold for $90.5 per share Monday.
Pickens added 334 shares to his stake in Diamondback Energy Inc. (FANG, Financial), a Midland, Texas-based oil and gas company, for an average price of $67.92 per share. The transaction had a 0.06% impact on Pickensā portfolio.
Diamondback Energy has a market cap of $4.36 billion and an enterprise value of $5.03 billion. It has a forward P/E of 82.0, a P/B of 2.1 and a P/S of 8.5. GuruFocus has given Diamondback Energy a Financial Strength rating of 7/10 and a Profitability and Growth rating of 6/10.
RS Investment Management (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio) and Jim Simons (Trades, Portfolio) also added to their stakes in Diamondback Energy.
Diamondback Energy sold for $65.43 per share Monday.
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