Penn West, Seadrill, Baytex: Not A Good Day To Be An Energy Stock

According to our data gathered from 730 elite funds, hedge funds were bearish on Baytex Energy Corp (USA) (NYSE:BTE) in the second quarter. A total of seven funds reported stakes worth $12.2 million (just 0.40% of the float) in the latest round of 13F filings, down from 12 funds with $40.35 million in shares held a quarter earlier.

Hedge funds were mixed on Penn West Petroleum Ltd (USA) (NYSE:PWE) in the time period from April 1 to June 30. Although the number of funds decreased to 15 from 18, the total value of their holdings in the stock increased to $93.89 million from $93.24 million.

Hedge funds added to their positions in EP Energy Corp (NYSE:EPE) during the quarter. 21 funds reported stakes worth $171.87 million (representing 5.40% of the float) at the end of June, up from 18 funds with just $86.08 million in aggregate holdings at the end of March.

Lastly, hedge funds were ambivalent towards Seadrill Ltd (NYSE:SDRL) at the midpoint of 2015. 18 funds reported stakes worth $95.49 million, holding just 1.90% of the company’s common shares as of June 30.

Disclosure: None