T. Boone Pickens Hedge Fund: Top Four Energy Holdings 4 comments
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Suncor Energy Inc. (SU) jumped more than 7% on Tuesday as oil topped $129 per barrel and billionaire energy icon T. Boone Pickens said prices would hit $150 in 2008.

But Suncor, the number two producer in Alberta’s oilsands, which saw its biggest gain since August 2002, is also a key holding in Mr. Pickens’ hedge fund. At the end of the first quarter, Suncor accounted for 11% of the portfolio, or roughly $180-million, second to only Occidental Petroleum Corp. (OXY) at 12%, according to Bespoke Investment Group.

Transocean Inc. (RIG), an international provider of offshore contract drilling services for oil and gas wells, and oilfield service firm Schlumberger Ltd. (SLB), rounded out the top four, which were all energy related and accounted for 40% of the total.
Suncor was one of the fund’s top performers, climbing more than 34% in the first quarter.
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This article has 4 comments:
These days with oil volatility, RIG still holds a very nice value play.
Growth 5yr ~33%, PE 9.8, PEG 0.317, Mcap ~46.04B
GS rates Buy, cnbc's J.Cramer & FM recommended recent buy. In fact, Pete & Joe T. (guest) stated Rig is going up.
Target is upto $198
J. Cramer has a longstanding bullish rate on RIG & FM has recommended recently to buy as RIG is heading up.