Arnold Schneider Trims Positions in Chesapeake, Citigroup

Guru's larges sales of the 3rd quarter

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Tiziano Frateschi
Nov 25, 2019
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Schneider Capital Management leader 

Arnold Schneider (Trades, Portfolio) sold shares of the following stocks during the third quarter.

Chesapeake Energy

Schneider trimmed his Chesapeake Energy Corp. (

CHK, Financial) stake by 85.9%. The portfolio was impacted by -4.39%.

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The company, which produces natural gas, oil and natural gas liquids in the U.S, has a market cap of $1.13 billion and an enterprise value of $12.13 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of 43.75% and return on assets of 8.64% are outperforming 86% of companies in the oil and gas industry. Its financial strength is rated 2 out of 10. The equity-asset ratio of 0.28 is below the industry median of 0.48.

The largest guru shareholder of the company is

Bill Nygren (Trades, Portfolio) with 6.61% of outstanding shares, followed by Charles Brandes (Trades, Portfolio) with 0.09% and Schneider with 0.08%.

QEP Resources

The guru exited the QEP Resources Inc. (

QEP, Financial) holding. The portfolio was impacted by -1.95%.

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The company, which produces crude oil and natural gas, has a market cap of $756.18 million and an enterprise value of $2.81 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of -21.66% and return on assets of -10.33% are underperforming 79% of companies in the oil and gas industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.04 is above the industry median of 0.36.

The largest guru shareholder of the company is

Paul Singer (Trades, Portfolio) with 4.92% of outstanding shares, followed by John Paulson (Trades, Portfolio) with 0.43% and Joel Greenblatt (Trades, Portfolio) with 0.12%.

Brighthouse Financial

The Brighthouse Financial Inc. (

BHF, Financial) position was reduced by 7.88%, impacting the portfolio by -0.59%.

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The company, which provides annuity products and life insurance, has a market cap of $4.28 billion and an enterprise value of $2.43 billion.

GuruFocus gives the company a profitability and growth rating of 1 out of 10. The return on equity of 11.52% and return on assets of 0.82% are underperforming 64% of companies in the insurance industry. Its financial strength is rated 3.8 out of 10. The cash-debt ratio of 0.98 is below the industry median of 2.34.

The largest guru shareholder of the company is Dodge & Cox with 8.57% of outstanding shares, followed by

David Einhorn (Trades, Portfolio) with 3.04% and the  T Rowe Price Equity Income Fund (Trades, Portfolio) with 1.07%.

Mallinckrodt

The investor exited his Mallinckrodt PLC (

MNK, Financial) holding. The trade had an impact of -0.54% on the portfolio.

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The pharmaceutical company has a market cap of $259.85 million and an enterprise value of $5.53 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of -95.13% and return on assets of -31.25% are underperforming 87% of companies in the drug manufacturers industry. Its financial strength is rated 2 out of 10. The cash-debt ratio of 0.09 is below the industry median of 1.12.

The largest guru shareholder of the company is

Jeremy Grantham (Trades, Portfolio) with 0.29% of outstanding shares, followed by Paul Tudor Jones (Trades, Portfolio) with 0.24% and Philippe Laffont (Trades, Portfolio) with 0.20%.

Adient

Schneider trimmed the Adient PLC (

ADNT, Financial) stake by 5.22%. The portfolio was impacted by -0.44%.

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The company has a market cap of $1.89 billion and an enterprise value of $5.01 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of -72.1% and return on assets of -16.81% are underperforming 96% of companies in the vehicles and parts industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.27 is below the industry median of 0.46.

The largest guru shareholder of the company is

Chris Davis (Trades, Portfolio) with 9.56% of outstanding shares, followed by Hotchkis & Wiley with 8.18% and Einhorn with 2.69%.

Citigroup

The investor reduced his position in Citigroup Inc. (

C, Financial) by 5.63%. The portfolio was impacted by -0.43%.

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The bank has a market cap of $161.34 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of 8.86% and return on assets of 0.96% are underperforming 55% of companies in the banking industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.79 is below the industry median of 1.14.

Jeff Ubben (Trades, Portfolio)’s ValueAct Holdings is the largest guru shareholder of the company with 1.28% of outstanding shares, followed by Hotchkis & Wiley with 0.47%,

Diamond Hill Capital (Trades, Portfolio) with 0.45% and Nygren with 0.39%.

C&J Energy Services

The C&J Energy Services Inc. (

CJ, Financial) holding was reduced by 13.34%. The portfolio was impacted by -0.42%.

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The oil and gas equipment and services company has a market cap of $485.95 million and an enterprise value of $394.56 million.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of -25.88% and return on assets of -20.76% are underperforming 83% of companies in the oil and gas industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 4.98 is above the industry median of 0.36.

The largest guru shareholder of the company is Hotchkis & Wiley with 8.97% of outstanding shares, followed by

Richard Pzena (Trades, Portfolio) with 5.43% and Jim Simons (Trades, Portfolio)’ Renaissance Technologies with 2.93%.

Halcon Resources

The Halcon Resources Corp. (

HKRSQ, Financial) stake was closed. The portfolio was impacted by -0.32%.

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The company, which produces oil and gas, has a market cap of $12.14 million and an enterprise value of $816.16 million.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of -102.9% and return on assets of -50.83% are underperforming 93% of companies in the oil and gas industry. Its financial strength is rated 1.8 out of 10. The equity-asset ratio of 0.19 is below the industry median of 0.48.

Disclosure: I do not own any stocks mentioned.

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