Lucas Capital Made Timely Bets on Whiting Petroleum Corp; See Its Other Energy Bets

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In its last 13F filing, Lucas Capital Management’s disclosed ownership of 127,400 shares of EOG Resources Inc (NYSE:EOG), valued at $11.73 million and representing 4.36% of its equity portfolio. The investment firm increased its exposure to the stock by 78% last quarter, after its share price dropped significantly from its 52-week high of $118.89 registered in June, to $81.07 per share in October. Ric Dillon’s Diamond Hill Capital is also bullish on EOG Resources Inc (NYSE:EOG), holding 3.12 million shares at the end of 2014.

ConocoPhillips (NYSE:COP) was also among Lucas Capital Management’s top picks last quarter, with a position of 155,600 shares. The stock dropped by 6.65% over the past 52 weeks. However, ConocoPhillips (NYSE:COP) has responded quite well to the low crude prices plaguing the industry and offers shareholders an attractive quarterly dividend yield of $0.73 per share. Last quarter, 44 investors out of the 737 funds we track held positions in the company. Its largest shareholders among institutional investors are First Eagle Investment Management, with a stake of 8.97 million shares, and Donald Yacktman’s Yacktman Asset Management, which owns 6.01 million shares.

Lucas Capital Management also held Plains GP Holdings LP (NYSE:PAGP) as one of its top picks last quarter, disclosing ownership of 383,500 shares, valued at around $9.85 million. The stock recently received a “buy” rating from sixteen analysts and while shares are currently trading at $27.77, the average twelve-month price target has been set at $32.38 per share. Daniel S. Och’s OZ Management is also backing Plains GP Holdings LP (NYSE:PAGP), as it entered a new position in the company last quarter with the acquisition of 9.99 million shares.

Disclosure: none.

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