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Both Hedge Funds and T. Boone Pickens Love These Stocks

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June 29, 2011 – Comments (0) | RELATED TICKERS: CHK , OXY , BP

We all know T. Boone Pickens is a great person to follow when looking for new and promising energy stock picks. The following stocks are not only liked by Pickens, himself, but are also favored by various hedge fund managers due to their downside protection. Insider Monkeyhas broken down the numbers and given us great information on why these are solid energy stock picks.

 

"British Petroleum and Apache Corp are the two most popular energy stocks among hedge fund managers. There were 41 hedge funds holding each stock at the end of March and the total value of hedge fund holdings was around $1.8 billion. Boone Pickens is bullish about both companies. He initiated his APA position during the first quarter and he also boosted his stake in BP by 18%. Bill Miller, Eric Mindich and David Einhorn are among BP’s invetors.

 Chesapeake Energy (CHK) was Boone Pickens’ largest position at the end of March. Other hedge funds were also very bullish about CHK, investing more than $3.4 billion in the company. Mason Hawkins, Israel Englander and Carl Icahn are among the CHK investors.

Occidental Petroleum is another stock with tremendous hedge fund interest. Boone Pickens increased his bets on OXY by 65% during the first quarter. Hedge funds collectively invested more than $2.5 billion in OXY. Ken Fisher, Ralph Whitworth and Ric Dillon have very large bets on OXY. Occidental Petroleum is one of Ken Fisher’s favorite stock picks."

 

For charts and additional research: http://turnkeyoil.com/2011/06/29/both-hedge-funds-and-t-boone-pickens-love-these-stocks/ 

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