New York billionaire George Soros bought more new stakes in Houston energy companies than he sold off in the fourth quarter.
New York billionaire George Soros bought more new stakes in Houston energy companies than he sold off in the fourth quarter, maintaining his bullish vibe on the sector from the previous period.
The chairman of New York-based hedge fund Soros Fund Management LLC acquired positions in two Houston majors ? a $13.7 million stake Halliburton Co. (NYSE: HAL) and a $44.7 million investment in Plains Exploration & Production Co. (NYSE: PXP) ? as well as a $2 million position in Switzerland-based Weatherford International Ltd. (NYSE: WFT), which has major operations in Houston.
Soros also boosted his investment in Phoenix-based Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) by 5 percent to 1.4 million shares worth $46.6 million and his stake in Pioneer Natural Resources Co. (NYSE: PXD) by 49.5 percent to 2.09 million shares worth $222.6 million.
Still, the manager sold off his $7.1 million stake in Hercules Offshore Inc. (NYSE: HERO), his $18.8 million investment in Range Resources Corp. (NYSE: RRC) and his $34.8 million position in Southwestern Energy Co. (NYSE: SWN).
Collin Eaton covers banking, finance and securities.
Source: http://feedproxy.google.com/~r/vertical_29/~3/CruQly-6he0/george-soros-keeps-bullish-pace-in.html
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