According to Reuters, T. Boone Pickens’ hedge fund BP Capital has loaded up on a number of notable natural gas drillers. Fund managers are required to report holdings within 45 days after the quarter ends.
BP Capital added shares of several onshore natural gas drilling companies to its portfolio that it didn’t have in its first quarter holdings including:
190,454 shares of Devon Energy Corp;
599,788 shares of Quicksilver Resources Inc;
189,507 shares each in Encana Corp; and,
189,507 shares Southwestern Energy Co.
Does T. Boone know something that the rest of us dont? No. Prices cycle, and though natural gas prices remain low due to US natural gas in storage increasing on a weekly basis, milder weather, and a non-event hurricane season, at some point one has to understand that the time to buy an investment is when it is low. Its that simple.
Reuters: T. Boone Pickens loads up on onshore gas stocks
