8 Energy Companies That Hedge Funds Are Insanely Bullish About

Based on the transactions of nearly 700 hedge funds, we compiled this list of top eight energy companies hedge funds were buying like crazy during the fourth quarter:

Exxon Mobil Corporation (NYSE:XOM

1. Exxon Mobil Corp. (XOM): More than 100 hedge funds snatched XOM. They own nearly $4 billion worth of Exxon Mobil shares. Even Warren Buffett has XOM in his stock portfolio (see Warren Buffett‘s energy stock picks).

2. Halliburton Co. (HAL): Halliburton was owned by 85 hedge funds at the end of last year. They increased their holdings from 3% to 4% of the outstanding shares. T. Boone Pickens is extremely bullish about HAL.

3. Schlumberger Ltd. (SLB): Eighty-two hedge funds owned 2% of SLB in the second half of last year. Stephen Mandel’s Lone Pine Capital bought Schlumberger in the most recent fourth quarter and made more than 14% from his nearly $600 million bet. T. Boone Pickens also has SLB in his portfolio.

4. Devon Energy Corp. (DVN): Hedge funds increased their position in (DVN) by 25% in the fourth quarter. The stock is also one of the positions that have helped T. Boone Pickens have a successful year so far. As of March 1st, it was one of the 23 stocks in the portfolio that returned 18% in 2011, beating the SPY by more than 12 percentage points. The stock is also one of Andreas Halvorsen’s largest 25 positions.

See the rest of the list at Seeking Alpha.

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