Frank Brosens’ Taconic Capital Cuts Stake in WPX Energy Inc (WPX)

Frank Brosensmulti-strategy hedge fund Taconic Capital decreased its position in WPX Energy Inc (NYSE:WPX). Currently, the fund owns 12.00 million shares (5.90%) of the company, down from the earlier position of 13.80 million.

Frank Brosens

Earlier this year, in a statement attached to a filing with the SEC, Taconic Capital Advisors revealed that, following an agreement with WPX Energy, the company’s Board of Directors will expand to 12 members to include a representative from the fund.

An independent natural gas and oil exploration and production company, WPX Energy Inc (NYSE:WPX) engages in the exploitation and development of long-life unconventional properties. In 2013, the company generated $-5.91 per share, which is expected to shrink to $-0.29 per share this year. Bearing a Beta of 1.26, WPX’s stock has been trading at an average of $18.00 per share in the past 12 months and closed $21.30 on May 9, 2013. The means analyst recommendation for the company’s shares is ‘Hold.’

Led by John A. Levin, Levin Capital Strategies is a large shareholder at WPX Energy Inc (NYSE:WPX), holding a position of 5.85 million shares of the company. Other large holders of WPX’s stock include Leon Cooperman‘s Omega Advisors, which owns nearly around 2.23 million shares and David E. Shaw‘s D E Shaw, which owns almost 2.10 million.

Former head of risk arbitrage at Goldman Sachs, Frank Brosens co-manages the $9.00 billion AUM hedge fund Taconic Capital with Kenneth Brody. The fund’s $2.60 billion worth equity portfolio is quite diversified, but mostly exposed to the Consumer Goods and Basic Materials Sectors. Approximately 18.25% of the portfolio’s value is invested in General Motors Company (NYSE:GM), the position amassing more than 11.55 million shares. The fund also owns a considerable position in Time Warner Cable Inc (NYSE:TWC), a US provider of video, high-speed data, and voice services.

Disclosure: none

Recommended reading:

Tourbillon Capital Partners Boosts Exposure to Atlas Energy LP (ATLS)

Three Stocks With Low P/E Ratios That Insiders are Buying

Nitin Saigal / Kora Management: Best Investment Idea from Next Wave Sohn

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!