Billionaire George Soros’ Top Picks and Notable Moves Ahead of 2017

Key Energy Services, Inc. (NYSE:KEG)

– Shares Held By Soros Fund Management (as of December 31): 1.85 Million

– Value of The Holding (as of December 31): $59.13 Million

Similar to Time Warner, Key Energy Services, Inc. (NYSE:KEG) was also a new entrant in Soros Fund Management’s equity portfolio. The company was delisted from NYSE last July after its stock had started trading at ‘abnormally low’ levels. However, the stock got relisted in late-December last year after the company emerged from Chapter 11 bankruptcy. Key Energy Services, Inc. (NYSE:KEG) revealed that after emerging from bankruptcy it was able to reduce its debt burden by $694 million by issuing fresh equity to bondholders. The company is yet to report its quarterly results after emerging out of bankruptcy.

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Williams Companies Inc (NYSE:WMB)

– Shares Held By Soros Fund Management (as of December 31): 2.35 Million

– Value of The Holding (as of December 31): $73.22 Million

After having initiated its stake in the energy infrastructure firm during the third quarter, Soros Fund Management lowered its holding by 25% during the fourth quarter. Williams Companies Inc (NYSE:WMB)’s stock nearly doubled in the period between March 2016 and September 2016, but has been in correction mode since then. On February 15, the company reported its fiscal 2016 fourth quarter results, declaring adjusting income from continuing operations of $0.17 per share, which was $0.01 lower than what analysts had expected. Nevertheless, its cash flow from operations for the fourth quarter amounted to $1.58 billion and was up by $990 million year-over-year. Earlier this month, analysts at Deutsche Bank AG initiated coverage on the stock with a ‘Hold’ rating and $32 price target, suggesting a potential upside of over 13%.

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