Cheniere Energy, Inc. (LNG), Antero Resources Corp (AR) and Pioneer Natural Resources (PXD) among Billionaire Seth Klarman’s Top Mid-Cap Stock Picks

Pioneer Natural Resources (NYSE:PXD) represents a new position for Klarman, with it consisting of 3.17 million shares with a market value of $517.83 million as of the reporting period. Pioneer Natural Resources is an independent oil and gas company headquartered in Irving, Texas which recently overtook Ameriprise Financial Inc (NYSE:AMP) to claim the 207th position among the largest companies in the S&P 500 index with its market cap of $23.31 billion. The company registered an adjusted net loss of $5 million for the first quarter of 2015, which represents a loss of $0.03 per diluted share. Pioneer Natural Resources (NYSE:PXD) was also unceremoniously lampooned by billionaire investor David Einhorn in early May, with Einhorn calling the company a “mother fracker” with potential to for a “nearly infinite supply of negative return opportunities.” In addition to Klarman’s new position, Kyle Bass‘ Heyman Advisors also opened a new position in Pioneer Natural Resources during the first quarter.

Klarman added to his holding of Antero Resources Corp (NYSE:AR), increasing the position by 19% during the first quarter to 9.35 million shares of the company with a market value of $330.16 million. Antero Resources Corporation is an oil and natural gas company headquartered in Denver, Colorado. The company’s main activities are acquisition, exploration, and development of natural gas, oil properties and NGLs located in the U.S. The company registered higher production for the quarter compared to the fourth quarter of 2014, posting an increase of 17%. Its net daily liquids production stood at a record 40,000 barrels per day, representing a 32% increase quarter over quarter and a 145% hike year-over-year. The company had a diversified portfolio that enabled it to sell an estimated 64% of its natural gas production at optimal prices. Jacob Rothschild‘s RIT Capital Partners opened an extremely bullish new position on Antero Resources Corp (NYSE:AR) during the first quarter, one that gave it nearly 21% exposure to the stock in its equity portfolio.

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