Five Penny Stocks that Captured the Attention of Billionaires

Two other energy penny stocks that enjoyed some attention from hedge funds are Key Energy Services, Inc. (NYSE:KEG) and SandRidge Energy Inc. (NYSE:SD). Both stocks slumped by around 70% during the third quarter and are currently trading only slightly above their respective 52-week lows. A total of 20 funds held shares of Key Energy Services, Inc. (NYSE:KEG) at the end of June, amassing nearly 30% of the company at the time. Two funds managed by billionaire investors held shares of Key Energy Services, Inc. (NYSE:KEG), namely Ken Griffin’s Citadel Investment Group and Jim Simons’ Renaissance Technologies, both of which increased their stakes, to 12.89 million shares and 2.80 million shares respectively.

SandRidge Energy Inc. (NYSE:SD) was included in the equity portfolios of 18 funds, which held positions equal to 23% of its outstanding stock at the end of June. Among them, billionaire Prem Watsa of Fairfax is the most bullish on SandRidge Energy Inc. (NYSE:SD), amassing 50.89 million shares, which accounted for 3.25% of Fairfax Financial Holdings’ equity portfolio. Millennium Management also reported ownership of 1.69 million shares, the stake being increased by 162% on the quarter.