Billionaire Rob Citrone Loads Up On Energy Stocks

Cimarex Energy Co (NYSE:XEC)

– Shares Owned by Discovery Capital Management (as of June 30): 662,064

– Value of Discovery Capital Management’s Holding (as of June 30): $78.99 million

Discovery Capital added Cimarex Energy Co (NYSE:XEC) to its portfolio during the second quarter, buying 662,064 shares of the company, worth $78.99 million on June 30. Cimarex Energy recently reportedsecond quarter EPS of $0.07, easily topping better the consensus target of $0.01. Earlier this month, Deutsche Bank AG upped its price target on Cimarex Energy shares to $140 from $120, while reaffirming a ‘Hold’ rating. The stock is up by over 48% so far this year. Of the 749 13F-filing funds in our database, 39 were bullish on Cimarex Energy Co (NYSE:XEC) on June 30, up from 32 a quarter earlier.

WPX Energy Inc (NYSE:WPX)

– Shares Owned by Discovery Capital Management (as of June 30): 8.73 million

– Value of Discovery Capital Management’s Holding (as of June 30): $81.31 million

Discovery Capital acquired approximately 8.73 million shares of Oklahoma-based energy company WPX Energy Inc (NYSE:WPX) in the three-month period ended June 30. The company recently reported a second quarter adjusted net loss of $0.28 per share, $0.07 worse than analysts’ consensus estimate. On a positive note, WPX Energy increased its full year oil production guidance to an average of 39-to-41 Mbbl per day, a 5% increase from its previous guidance of 37-to-39 Mbbl per day. WPX Energy Inc (NYSE:WPX)’s stock has gained over 106% year-to-date.

Halliburton Company (NYSE:HAL)

– Shares Owned by Discovery Capital Management (as of June 30): 1.88 million

– Value of Discovery Capital Management’s Holding (as of June 30): $85.19 million

Discovery Capital Management acquired over 1.88 million shares of the world’s largest oil field services company during the second quarter. The new position accounts for 1.96% of the value of the fund’s equity portfolio. Shares of Halliburton Company (NYSE:HAL) touched a new 52-week high of $46.90 last week, following a rally in crude prices and are up by over 32% so far this year. Halliburton Company (NYSE:HAL)’s revenue fell by 9% on a year-over-year basis in the second quarter of 2016. Back in May, the company scrapped its planned merger with Baker Hughes Incorporated (NYSE:BHI) following intense opposition from U.S. and European antitrust authorities. Halliburton will pay a $3.5-billion termination fee to Baker Hughes. Natixis Global Asset Management’s Harris Associates owns 5.65 million shares of Halliburton as of the end of the second quarter.

Disclosure: None