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Oil Guru Pickens Predicts $100 Crude, Buys Energy Stocks
Wednesday November 18, 10:04 am ET
By the tickerspy.com Staff

After slashing his hedge fund's stock portfolio by -97% to end to 2008, legendary oilman T. Boone Pickens was dipping his toe back into equities during Q3. The moves come after a brutal 2008 for BP Capital, Pickens' energy-focused hedge fund.

Pickens is still a bull on the energy complex. Bloomberg reported last week that Pickens now sees oil hitting $100 a barrel next year.

Looking at Pickens' top, U.S.-listed, equity positions at the end of Q3, it appears he may be ramping up his buying of energy-oriented equities, with new positions in oil refiner Hess (NYSE: HES - News), oil and natural gas producers SandRidge Energy (NYSE: SD - News) and McMoRan Exploration (NYSE: MMR - News), and oil equipment and services company Wetherford International (NYSE: WFT - News).

Elsewhere, Pickens was accumulating shares in natural gas producer Chesapeake Energy (NYSE: CHK - News), offshore drilling contractor Transocean (NYSE: RIG - News), oil services giant Schlumberger (NYSE: SLB - News), and oil and natural gas producers XTO Energy (NYSE: XTO - News) and Devon Energy (NYSE: DVN - News).

Looking at tickerspy.com's graph charting the performance of Pickens' end-of-Q3 holdings so far in Q4, one can see that the top holdings have stayed ahead of the market. If you want to see how your performance stacks up to Pickens' or see some of his other holdings, visit tickerspy.com to see his fund's top positions and a chart of their combined performance.

Pro portfolio performance is based on institutions' top-15 holdings as disclosed in quarter-end filings with the SEC. Pro performance does not take into account additional holdings beyond the top 15 nor does it include positions that are not required to be disclosed by the SEC. As such, Pro portfolio performance should be considered an approximation and not a precise record of how an institution has performed over time.

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