Spo Advisory Sells Some More Petroquest Energy Inc (PQ) Shares

The holding of Petroquest Energy Inc (NYSE:PQ) in the equity portfolio of John H. Scully's Spo Advisory was reduced recently by 242,000 shares. According to a new SEC filing, SPO unloaded the securities in two transactions, the average price amounting to $4.02 apiece. Overall, the fund cashed in around $972,900. Following the sale of securities, Spo Advisory holds a total of some 6.6 million shares. Petroquest Energy Earlie, at the beginning of November, Spo Advisory revealed selling another 310,000 shares of Petroquest Energy Inc (NYSE:PQ). The fund sold the shares for $4.43 apiece on average. Overall, Spo reduced its exposure to the company from nearly 7.2 million, revealed in the latest 13F as owned at the end of September. The stock of Petroquest Energy Inc (NYSE:PQ) is down by over 23% since the beginning of the year. The company reported a 90% increase in its oil production in the third quarter of the year. The company also posted a net profit of $383,000 , or $0.01 per share, an improvement from a net loss of $38.6 million, or $0.62 per share posted in the same period of last year. Among other shareholders of Petroquest Energy Inc (NYSE:PQ), who revealed holding shares in the latest round of 13F filings is Highbridge Capital Management, led by Glenn Russell Dubin, which revealed a $1.4 million stake, which amasses 351,100 shares. Also, Israel Englander's Millennium Management, disclosed holding 108,900 shares, with a reported value of $437,000. In the equity portfolio of SPO Advisory, the largest holding is held by Liberty Global plc (NASDAQ:LBTYK), in which the fund revealed owning 13.1 million shares of Class C, worth $989.8 million. The fund also revealed a $979.7 million stake in Charles Schwab Corp (NYSE:SCHW), which amasses 46.3 million shares. In Pioneer Natural Resources (NYSE:PXD), Spo holds 4.5 million shares, worth $852.7 million. Disclosure: none Recommended Reading: Philip Hempleman, Ardsley Partners Initiate Position in Supernus Pharmaceuticals Inc (SUPN) Carl Icahn Exercises Options and Reiterates Stake in Hologic, Inc. (HOLX) Hedge Fund News: David Tepper, George Soros & Man Group
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