Energy Investor T. Boone Pickens’ 3 New Oil Stock Picks

Abogado Aly

As oil tumbled to its five-and-a-half year low of $51.12 per barrel on Tuesday, energy guru T. Boone Pickens announced that he acquired six new stocks in the third quarter, three of which were oil and gas companies.
The chairman of BP Capital Management?s Portfolio is 97.8% composed of energy stocks, and he believes the price for oil is going to rise in the near future.
?I said it would be back up to $100 a barrel 12 to 18 months,? he told Fox News on Monday. ?Demand, with the lower price of oil, demand will come up,? he added.
Pickens also said he expected increased mergers and acquisitions activity in the oil industry with the fall in prices.
In the third quarter, Pickens? three new energy stock buys were: Western Refining Inc. (WNR), WPX Energy Inc. (WPX), Gastar Exploration Inc. (GST).

from Forbes – Business http://ift.tt/14qAfz1
via Abogado Aly…

View original post 2 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s