Why You Should Consider Adding U.S. Silica Holdings Inc (SLCA), Diamondback Energy Inc (FANG) & More To Your Portfolio

Brenham Capital Management lowered its stake in Continental Resources, Inc. (NYSE:CLR) during the June quarter to 2.4 million shares, which were valued at $108.65 million at the end of June. This still stake amassed 13.90% of its equity portfolio’s value, even after being lowered by 20% during the quarter. The lowering of the stake was not the best of the fund’s moves however, since the stock returned 14.8% in the next three months and has advanced by 105.79% since the beginning of the year.

Heading into the third quarter of 2016, a total of 44 of the hedge funds in our system held long positions in this stock. Among the biggest investors in the company during the June quarter was Carlson Capital, which amassed $77.6 million worth of shares. Moreover, Columbus Hill Capital Management, Clough Capital Partners, and Anchor Bolt Capital were also bullish on Continental Resources, Inc. (NYSE:CLR).

Maybe the best investment move made by Brenham Capital Management in the second quarter was adding more shares of Callon Petroleum Company (NYSE:CPE) to its portfolio, since the company returned 39.8% during the third quarter. In the June quarter, the fund raised its stake to 6.4 million shares, or by 28%, creating a position that was valued at $71.87 million.

At the end of the second quarter, 35 of the hedge funds tracked by Insider Monkey were long this stock, 21% more than a quarter earlier. One of the biggest stakes in Callon Petroleum Company (NYSE:CPE) was reported by Discovery Capital Management, being a $59.9 million position. Other investors bullish on the company included Point72 Asset Management, Zimmer Partners, and GRT Capital Partners.

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