T. Boone Pickens - BP Capital
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DESCRIPTION:

Date updated:11-18-2009

As of 9/30/2009 funds in BP Capital Management LP were valued at $188.3 million.

Positions were allocated across the energy sector (94%).

During the quarter the following actions were taken:

Positions closed out: none
New positions: HES, SD, MMR, WFT, GST
Decreased positions: none
Increased positions: RIG, DVN, OXY, CHK, COG, STR, FST, APC

Here are the holdings as of September 30, 2009.

symbol name last price % change open
  • +
  • RIG
    Transocean Ltd
  • $83.40
  • -0.70%
  • $84.17

16.70% of portfolio. Position was increased by 8.7%.

People owning RIG also tend to own: AEPAPABACCOFCOPCVXDELL

TheStreet.com Rating: B- What is this?

  • +
  • HES
    Hess Cp
  • $57.03
  • -1.64%
  • $57.91

12.52% of portfolio. Position was new.

People owning HES also tend to own: AFLBABACBAXBENCMCSACSCO

TheStreet.com Rating: C What is this?

  • +
  • DVN
    Devon Energy Cp (
  • $66.14
  • -0.88%
  • $66.63

11.00% of portfolio. Position was increased by 17.39%.

People owning DVN also tend to own: AFLBABACBAXBENCMCSACSCO

TheStreet.com Rating: C- What is this?

  • +
  • OXY
    Occidental Pet
  • $76.30
  • -0.53%
  • $76.77

9.70% of portfolio. Position was increased by 8.7%.

People owning OXY also tend to own: AFLBABACBAXBENCMCSACSCO

TheStreet.com Rating: B What is this?

  • +
  • CHK
    Chesapeake Energy
  • $24.24
  • 0.00%
  • $N/A

8.13% of portfolio. Position was increased by 215%.

People owning CHK also tend to own: ACIAINVANRAPCBBDBTUCMCSK

TheStreet.com Rating: C- What is this?

  • +
  • COG
    Cabot Oil Gas Cp
  • $37.66
  • -2.05%
  • $38.47

7.06% of portfolio. Position was increased by 19.6%.

People owning COG also tend to own: FSTHYSLINFAPXPQSFTSOVVLY

TheStreet.com Rating: B- What is this?

  • +
  • SU
    Suncor Energy Inc
  • $29.12
  • -2.28%
  • $30.02

6.4% of portfolio.

People owning SU also tend to own: HOVTGTCNXMROCATCMCSAGS

TheStreet.com Rating: C What is this?

  • +
  • SD
    Sandridge Energy
  • $8.37
  • 0.00%
  • $N/A

5.61% of portfolio. Position was new.

People owning SD also tend to own: AMAR.OBASTMCVMFIGFONRGERNGPOR

TheStreet.com Rating: D- What is this?

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Q. is MMR a good spec trade on oil
02.09.10 | 20:35 PM Asked by BS7518

A. One of the best of breed oil service
sector stocks would have been a better
bet during this most recent market
correction.

MMR does have strong strength in
ownership; however, the stock price run
up has already been 158% in the last 12
months yet has had a stock price
decrease of 24% in the past 3 months.

Serious consideration to buy MMR must
include being honest with a current PE
that is negative and more than one
analyst has significantly decreased
quarterly earnings estimates . . . which
leads to uncertainty, lack of
consistancy, predictability or stability
of what you are really buying.

The risk does outweigh the reward. . .
meaning it would be as you are phrasing
your question, a speculative play. . .
so how much are you willing to lose vs
how much are you hoping/anticipating to
gain?

Further, should you go with MMR, might
want to look at the charts for entry
point for partial position, followed by
adding partial position(s) with the
consideration of placing and using
mental stops to protect
investment entry points . . . Then
consider how much are you anticipating
to gain on the upside in anticipation to
taking a partial or total profit. . .
Thought being, keep a keen eye on MMR if
you put it into play and have your
finger on the trigger to sell in case
the price goes south (below support) or
hits the exit number (for profit).

In short, I have no personal position as
to why there would be any reason to dive
into MMR whole hog with the belief it
will be easy money. . . and that is
likely the real hard information or
supporting documentation you are hoping
to secure to feel confident in making a
more than certain profit with the
probability of low risk.

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