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Top Managers Put More Oil Stocks In Their Tanks.(SERIES: MUTUAL FUND MONTHLY)(IBD SPECIAL REPORT)(BUYS & SELLS)
Byline: JULIE HUYNH
Oil stocks have taken the center stage once again as crude oil prices have been hiking north.
Managers of top-performing funds have been adding Halliburton , Schlumberger, Valero Energy, National Oilwell Varco and Baker Hughes in their latest reporting periods.
Top funds have also been grabbing shares of metal-ore issues like Companhia Vale Do Rio Doce, Southern Copper and Goldcorp.
Investing in cyclical stocks such as energy and gold can be tricky. But the past few years have been definitely boom times for big companies such as Halliburton and Schlumberger.
IBD spotted 29 best-performing funds snatching Halliburton, investing an estimated $559 million. Fidelity MidCap Stock Fund bought about 1.7 million shares as of its latest reporting period.
The Houston-based firm provides engineering, construction and oilfield services to energy, industrial and government entities. In January 2005, Halliburton emerged from Chapter 11 proceedings, related to settlement of asbestos suits.
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