Billionaire Steve Cohen’s SAC Traded eBay Inc (EBAY) for Amazon.com, Inc. (AMZN) Last Quarter

Suncor. EQT isn’t the only energy company Soros likes: he also added shares of Suncor Energy Inc. (USA) (NYSE:SU), which is best known for its assets in Alberta oil sands, to make two unconventional energy players among his top three picks. The company’s earnings fell 24% last quarter compared to the first quarter of 2012 despite a small rise in revenue. Analysts, however, are expecting Suncor’s business to grow considerably over the next couple years and as a result the forward P/E is 10. Of course, it might not be wise to place too much weight on sell-side forecasts.

The Alberta oil sands do have a good deal of potential as an energy source, and could certainly drive Suncor Energy Inc. (USA) (NYSE:SU)’s business, but it might be best to wait until the company is recording increases in its net income. We actually don’t like Amazon.com, Inc. (NASDAQ:AMZN) right now- certainly the business is doing well in expanding its scope but we’re worried that it is quite a way out from earnings numbers which would make us feel comfortable with its valuation- and as we’ve mentioned eBay Inc (NASDAQ:EBAY) is pricy enough that we are skeptical it is a value play at this time. EQT might also be a bit speculative, and we’re not sure it merits its premium to Chesapeake Energy Corporation (NYSE:CHK) among others, but merits notice as a way that some billionaires are playing a potential natural gas recovery.

Disclosure: I own no shares of any stocks mentioned in this article.