Century Management founder Arnold Van Den Berg (Trades, Portfolio) bought shares of the following stocks in both the first and second quarters:
Devon Energy Corp. (DVN, Financial)
In the first quarter, Van Den Berg increased his stake by 33.68% and again by 0.95% in the second quarter. The guru holds 0.06% of outstanding shares.
Devon Energy is an independent energy company involved in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
During the first quarter, Devon’s development programs delivered strong growth in high-value production, significantly enhancing profitability by 54% and driving outstanding well productivity from its U.S. resource plays. Light oil production increased 17%.
Barrow, Hanley, Mewhinney & Strauss is the largest shareholder of the company among the gurus with 0.96% of outstanding shares, followed by First Eagle Investment (Trades, Portfolio) with 0.91%, Tweedy Browne (Trades, Portfolio) with 0.61%, John Griffin (Trades, Portfolio) with 0.5%, Jim Simons (Trades, Portfolio) with 0.38%, Third Avenue Management (Trades, Portfolio) with 0.15%, Ray Dalio (Trades, Portfolio) with 0.11% and Martin Whitman (Trades, Portfolio) with 0.11%.
Atkore International Group Inc. (ATKR, Financial)
Van Den Berg increased the holding by 60% during the first quarter and again by 0.30% in the second quarter. He holds 0.78% of outstanding shares.
Atkore International manufactures electrical raceway products for the non-residential construction and renovation markets and mechanical products and solutions for the construction and industrial markets.
During the second quarter, higher sales in the electrical raceway segment increased net sales 5.6% to $372.8 million from $353.0 million in the prior-year period. Net income of $18.9 million increased $4.9 million from $14 million in the prior-year period.
Another notable shareholder among the gurus is Simons with 0.5% of outstanding shares, followed by Joel Greenblatt (Trades, Portfolio) with 0.1% and Paul Tudor Jones (Trades, Portfolio) with 0.09%.
Pioneer Energy Services Corp. (PES, Financial)
During the first quarter, the guru increased his stake by 171.29% and again by 79.98% in the second quarter. Van Den Berg holds 7.13% of outstanding shares.
Pioneer Energy provides drilling and production services to oil and gas exploration and production companies.
First-quarter revenues were $95.8 million, up 34% from revenues of $71.5 million in the fourth quarter of 2016 and up 28% from revenues of $75 million in the first quarter of 2016. Net loss was $25.1 million, or 33 cents per share, compared with net loss of $36.1 million, or 53 cents per share, in the prior quarter and net loss of $27.7 million, or 43 cents per share, in the year-ago quarter.
Steven Cohen (Trades, Portfolio) is another notable shareholder of the company among the gurus with 2.45% of outstanding shares, followed by Simons with 0.18%, Chuck Royce (Trades, Portfolio) with 0.07% and Jones with 0.07%.
McKesson Corp. (MCK, Financial)
The position was increased by 21.23% in the first quarter. In the second quarter, it was increased by 9.75%. Van Den Berg holds 3.78% of outstanding shares.
McKesson is a health care company that provides medicine, pharmaceutical supplies, information and care management products and services.Â
During the fourth quarter, revenue grew 4% year over year. On a constant currency basis, revenues increased 5% from the prior year.
Another notable shareholder among the gurus is Richard Pzena (Trades, Portfolio) with 3.78% of outstanding shares, followed by Charles Brandes (Trades, Portfolio) with 0.53%, Seth Klarman (Trades, Portfolio) with 0.47%, Larry Robbins (Trades, Portfolio) with 0.43%, Cohen with 0.17%, Jerome Dodson (Trades, Portfolio) with 0.08%, Greenblatt with 0.06% and David Tepper (Trades, Portfolio) with 0.05%.
Schlumberger Ltd. (SLB, Financial)
Van Den Berg increased his stake by 13.30% during the first quarter and by 96.44% in the second quarter. He holds 0.02% of outstanding shares.
Schlumberger supplies technology, integrated project management and information solutions to customers in the oil and gas industry.
Second-quarter revenue grew 8% from the quarter before and 4% from the comparable quarter of 2016. The company reported a 25% quarter-over-quarter increase for pretax operating income of $950 million.
With 3.09% of outstanding shares, Dodge & Cox is the largest shareholder of the company among the gurus, followed by First Eagle Investment with 0.57%, Frank Sands (Trades, Portfolio) with 0.36%, Manning & Napier Advisors Inc. with 0.36%, Pioneer Investments (Trades, Portfolio) with 0.33%, PRIMECAP Management (Trades, Portfolio) with 0.28%, David Rolfe (Trades, Portfolio) with 0.21%, Mairs and Power (Trades, Portfolio) with 0.16% and Jeremy Grantham (Trades, Portfolio) with 0.12%.
Occidental Petroleum Corp. (OXY, Financial)
During the first quarter, Van Den Berg increased his stake by 115.56% and again by 27.60% in the second quarter. He holds 0.04% of outstanding shares.
Occidental Petroleum is an oil and gas exploration and production company.Â
First-quarter net income was $117 million, or 15 cents per diluted share, compared with a loss of $272 million, or 36 cents per diluted share, for the fourth quarter of 2016. Permian resources average daily production of 129,000 barrels of oil equivalent grew from the quarter before.
The largest shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with 2.19% of outstanding shares, followed by Chris Davis (Trades, Portfolio) with 0.91%, T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.57%, NWQ Managers (Trades, Portfolio) with 0.16%, First Pacific Advisors (Trades, Portfolio) with 0.1%, Cohen with 0.09%, Steven Romick (Trades, Portfolio) with 0.08%, Pioneer Investments with 0.06% and John Rogers (Trades, Portfolio) with 0.05%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
