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Institutional Investors’ Activity: LGCY, SN, OIS, and SPN

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Mar. 28 2018, Published 11:07 a.m. ET

13F filers’ statistics for Legacy Reserves

In 4Q17, 17 funds were “buyers” of Legacy Reserves LP (LGCY) stock, while 27 funds were “sellers.” In 4Q17, the total selling funds outnumbered the total buying funds by ten. As of December 31, 2017, 45 13F filers held Legacy Reserves LP in their portfolio. None of the filers has Legacy Reserves LP in the top ten holdings.

From the aggregate number of shares point of view, 13F filers increased their aggregate Legacy Reserves LP holdings 8.3% or from ~14.72 million shares to ~15.94 million shares in 4Q17. As of December 31, 2017, Legacy Reserves LP had ~84.8 million common shares outstanding.

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Other stocks

Institutional investors bought Oil States International (OIS) stock in 4Q17. 13F filers increased their aggregate holdings in Oil States International 5.10% or from ~55.62 million shares to ~58.45 million shares.

In 4Q17, 13F filers reduced their aggregate holdings in Sanchez Energy (SN) 2.6% or from ~49.67 million shares to ~48.39 million shares.

Institutional investors sold Superior Energy Services (SPN) stock. In 4Q17, 13F filers reduced their aggregate holdings in Superior Energy Services 2.90% or from ~163.94 million shares to ~159.19 million shares.

Form 13F is an SEC mandate that has to be submitted by all of the institutional investors who manage more than $100 million in assets. Usually, the institutional investors include hedge funds, insurance companies, banks, and investment advisors who have access to in-depth research and greater capital. When institutional investors buy a stock, there’s a greater chance that the stock could outperform its industry.

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