The Energy Stocks Powering Bocage Capital’s Portfolio

The investment firm increased its stake in Cabot Oil & Gas Corporation (NYSE:COG) by 27% during the second trimester to 713,100 shares valued at $22.49 million. The stock price of the $11.18 billion independent oil & gas company has depreciated by nearly 9% so far this year. The company missed both the top and bottom line estimates in its financial results for the second quarter despite an increase in production on a year-over-year basis. The low commodity prices weighed heavily on Cabot Oil & Gas Corporation (NYSE:COG)’s performance. However, according to CEO Dan Dinges the future looks bright, as a new pipeline in the works will help the company market its gas and fetch a better price. Chilton Investment Company, which is led by Richard Chilton, holds about 350,000 shares of Cabot Oil & Gas Corporation (NYSE:COG) valued at $11.04 million as of the end of June.

Bocage upped its stake in Tesoro Corporation (NYSE:TSO) by 2% during the second quarter to 186,534 shares valued at $15.75 million. The $13.46 billion independent petroleum refining and marketing company is following anything but the general trend in the energy sector, as its stock has appreciated by more than 40% year-to-date, though this has been par for the course for the refining industry. The cheap crude has significantly expanded Tesoro Corporation (NYSE:TSO) and other refiners’ margins, which recently led to Tesoro hitting a 52-week high of $109.62, though it’s since dipped back down to $102.45. Besides delivering impressive second quarter results, the company is looking at a promising future as it continues to reduce operating costs, enhance the integration of its refining portfolio, and invest in organic growth. Robert Polak‘s Anchor Bolt Capital held about 725,900 shares of Tesoro Corporation (NYSE:TSO) valued at $61.27 million at the end of June.

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