Billionaire Paul Singer is Bullish and Bearish About These Energy Stocks

The same applies for Elliot Management’s put holding in Noble Energy, Inc. (NYSE:NBL), which amounts to 2.50 million shares. Although the company was championed by some a few quarters back, the stock has lost 29% over the past year and is one of the worst performing companies featured in this article. Although Paul Singer is betting against it, increasing his firm’s put position by 1.7 million shares last quarter, the company continues to be backed by numerous institutional shareholders. Amongst the funds we track, Boykin Curry’s Eagle Capital Management is the most bullish regarding the stock, with a stake of 14.50 million shares in Noble Energy, Inc. (NYSE:NBL).

Paul Singer’s Elliot Management also increased its put position in Exxon Mobil Corporation (NYSE:XOM) and ConocoPhillips (NYSE:COP) last quarter. As the hedge fund seeks to hedge the risk in energy stocks, it acquired a put holding of 250,000 shares in ConocoPhillips (NYSE:COP), and a put position of 170,000 shares in Exxon Mobil Corporation (NYSE:XOM). Hedge fund manager Donald Yacktman however, does not seem to agree with Mr. Singer’s bearish assessment of both companies: his fund Yacktman Asset Management holds a stake of 7.01 million shares in Exxon and 6.01 million shares of ConocoPhillips

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