Hedge Funds Are Crazy About Stone Energy Corporation (SGY)

Page 1 of 2

Is it smart to be bullish on Stone Energy Corporation (NYSE:SGY)?

To the average investor, there are many gauges market participants can use to track publicly traded companies. Some of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the top hedge fund managers can trounce the broader indices by a healthy amount (see just how much).

Equally as useful, positive insider trading sentiment is another way to look at the world of equities. There are plenty of motivations for an executive to cut shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Many empirical studies have demonstrated the market-beating potential of this method if “monkeys” know where to look (learn more here).

Keeping this in mind, it’s important to examine the recent info surrounding Stone Energy Corporation (NYSE:SGY).

How have hedgies been trading Stone Energy Corporation (NYSE:SGY)?

In preparation for the third quarter, a total of 19 of the hedge funds we track held long positions in this stock, a change of 19% from the previous quarter. With hedge funds’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings considerably.

Stone Energy Corporation (NYSE:SGY)Out of the hedge funds we follow, Israel Englander’s Millennium Management had the most valuable position in Stone Energy Corporation (NYSE:SGY), worth close to $50.6 million, accounting for 0.2% of its total 13F portfolio. Sitting at the No. 2 spot is Highbridge Capital Management, managed by Glenn Russell Dubin, which held a $19.1 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Some other peers that hold long positions include Chuck Royce’s Royce & Associates, Paul Reeder and Edward Shapiro’s PAR Capital Management and Cliff Asness’s AQR Capital Management.

With a general bullishness amongst the titans, certain bigger names were leading the bulls’ herd. Millennium Management, managed by Israel Englander, created the most outsized position in Stone Energy Corporation (NYSE:SGY). Millennium Management had 50.6 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $29.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Glenn Russell Dubin’s Highbridge Capital Management, Howard Marks’s Oaktree Capital Management, and Chuck Royce’s Royce & Associates.

Insider trading activity in Stone Energy Corporation (NYSE:SGY)

Insider buying made by high-level executives is particularly usable when the company in focus has seen transactions within the past half-year. Over the latest 180-day time period, Stone Energy Corporation (NYSE:SGY) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll also review the relationship between both of these indicators in other stocks similar to Stone Energy Corporation (NYSE:SGY). These stocks are LinnCo LLC (NASDAQ:LNCO), Diamondback Energy Inc (NASDAQ:FANG), QR Energy LP (NYSE:QRE), Carrizo Oil & Gas, Inc. (NASDAQ:CRZO), and EPL Oil & Gas Inc (NYSE:EPL). All of these stocks are in the independent oil & gas industry and their market caps are closest to SGY’s market cap.

Page 1 of 2
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

The 10 Longest Wars of All Time

The 13 Worst Looking Foods that Taste Great

The 6 Most Gruesome Injuries Suffered During a Sports Match

The 20 Biggest Contracts in MLB History

The 7 Worst Blown Calls in Sports History

7 Free Ways to Advertise Your Business Online

The 18 Best R&B Songs of the 90’s

The 10 Most Dangerous States to be a Cop

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!