Why Are These Stocks Trading Higher Today?

In other news, shares of energy stocks, including Chesapeake Energy Corporation (NYSE:CHK), Seadrill Ltd (NYSE:SDRL), and Whiting Petroleum Corp (NYSE:WLL) are trading higher following hedge fund manager Kyle Bass‘ interview on “Wall Street Week“, in which he suggested that the energy sector may be headed towards a rebound. He based his analysis on higher demand and a positive global GDP outlook. Earlier today, analysts at Raymond James downgraded the firm to ‘Underperform’ from ‘Market Perform’ and lowered their price target to $4.5 from $6.9. Raymond James’ downgrade comes on the back of “weak natural gas price forecast and balance sheet concerns” and after Chesapeake shares slid by more than 75% during the past year.

Among the funds we follow, 34 reported long positions in Chesapeake Energy Corporation as of the end of September, up by one fund over the quarter. Carl Icahn‘s Icahn Capital Lp is the largest shareholder of the company among the investors we follow, with 73.05 million shares disclosed in its latest 13F filing.

Seadrill Ltd (NYSE:SDRL)’s shares are up by around 3.5%. Seadrill Ltd (NYSE:SDRL) registered an increase in popularity among the funds we track, with 23 investors holding long positions at the end of September, versus 18 funds a quarter earlier. Anand Parekh‘s Alyeska Investment Group is the largest shareholder with 3.55 million shares, valued at $20.93 million at the end of September.

Finally, shares of Whiting Petroleum Corp (NYSE:WLL) started in the green and following a slump are trading slightly higher than the previous close. Whiting Petroleum Corp (NYSE:WLL) lost popularity in the third quarter and out of the 730 funds that we track, 42 funds reported holding shares of the company as of the end of September, amassing 24.6% of the float. John Paulson’s Paulson & Co has the most valuable position in Whiting Petroleum Corp, worth $146.6 million, amounting to 0.76% of its total 13F portfolio value.

Disclosure: none