On March 24th Jim Cramer talked about oil stocks during his show. He likes Chevron (CVX) and ConocoPhillips (COP) among the large cap oil companies. He is also very bullish about three smaller oil companies, which produce significant amounts of oil in North Dakota: EOG Resources (EOG), Whiting Petroleum (WLL), and Continental Resources (CLR). Here are hedge funds’ positions in these companies:
Chevron (CVX): Chevron returned 16.4% so far in 2011. Steve Cohen had a very small position in CVX at the end of 2010. Ken Fisher had a $47 Million position in Chevron. Prominent hedge fund managers aren’t very enthusiastic about CVX.
ConocoPhillips (COP): Conoco returned 18.1% this year. Bill Miller had a $231 Million position at the end of December. Warren Buffett has a $2 Billion position in COP, but he isn’t very happy because he bought his holdings at the top of the market.
EOG Resource (EOG): EOG returned 26.6% this year. It is one of the ten stocks T. Boone Pickens is extremely bullish about. Steve Cohen has a small position in EOG.
Continental Resources (CLR): CLR returned 18.1% since the end of 2010. Hedge funds we follow don’t have significant positions in CLR.
Jim Cramer also recommended PerkinElmer (PKI), which he said is immune to high oil prices. This medical instruments maker returned 1.1% so far in 2011. Andreas Halvorsen’s Viking Global had a $70 Million position in PKI at the end of December.
In the lightning round Cramer recommended Baidu (BIDU), CB Ellis Group (CBG), Accuride (ACW), and Potash (POT). He also likes Washington Real Estate Investment Trust (WRE) because of its 5.9% dividend. He didn’t recommend Human Genomics Sciences (HGSI) or Rediff.com (REDF).
Baidu (BIDU): Baidu returned 38.3% so far this year. Chase Coleman, one of the top performing hedge fund managers in 2010, had a $53 Million position at the end of 2010. Andreas Halvorsen had a huge $454 Million position in this stock. Ken Fisher had a $354 and Louis Navellier had a $69 Million BIDU position in their portfolio.
CB Ellis Group (CBG): CBG returned 35.9% since the end of 2010. John Paulson had a $276 Million position in CBG at the end of December. Jim Simons is also among the CBG investors with a $43 Million position.
Potash (POT): Potash returned 8.4% so far in 2011. David Einhorn’s Greenlight, Thomas Steyer’s Farallon Capital, Jim Simons’ Renaissance, Dan Loeb’s Third Point, Andreas Halvorsen’s Viking Global, Richard Perry’s Perry Capital, and Mohnish Pabrai have large Potash investments.
Washington Real Estate Investment Trust (WRE): WRE lost 2.6% so far in 2011. There aren’t any significant hedge fund holdings in WRE.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.