Addictive Energy Stocks, According to T.Boone Pickens
T. Boone Pickens has been in the oil business for long enough to know which stocks he likes. I am sure many investors out there have their favorite picks, but taking a note or two from Pickens probably wouldn’t hurt. Investment Underground has narrowed down a few of T. Boone’s favorites, check ‘em out.
"Apache Corporation (APA): This is a new position for Pickens. He added shares at the average price of $121.61 during the reporting period.Apache is one of the largest independent exploration and production companies in the world with plays throughout North America, and oil and gas projects in Egypt, Australia, Argentina and the U.K.
EOG Resources (EOG): Pickens has picked up shares of EOG during the last two reporting periods. He currently holds a little than 400,000 shares. The Houston-based oil company focuses on exploration and production of oil and natural gas, primarily in North America. Shares trade at $107.67 at the time of writing, with a 52-week range from $85.03 to $121.37. With a market cap of $28.9 billion, EOG is no small company, and buyers face a high barrier to entry. However, for the 12th straight year, EOG approved an increase in its common stock dividend for 2011, which will grow 3% to $0.64 per share (or 0.60%). The company reported a net income of $160.7 million for FY 2010, down considerably from last year’s $546.6 million total, although revenue generated from liquids surpassed those from natural gas for the first time in the company’s history."
Read the entire article here: http://turnkeyoil.com/2011/06/15/addictive-energy-stocks-according-to-t-boone-pickens/