Hedge Funds Didn’t See It Coming: WPX Energy Inc (WPX) To Acquire RKI Exploration Production LLC

Hedge fund activity in WPX Energy Inc (NYSE:WPX)

According to hedge fund experts at Insider Monkey, Carlson Capital, managed by Clint Carlson, holds the most valuable position in WPX Energy Inc (NYSE:WPX). Carlson Capital has a $61.9 million position in the stock made up of 5.66 million shares, comprising 0.7% of its 13F portfolio. On Carlson Capital’s heels is David E. Shaw of D.E. Shaw & Co., L.P., with a $58.3 million position of 5.33 million shares; 0.1% of its 13F portfolio is allocated to the stock. Some of the remaining hedgies that are bullish encompass David Costen Haley’s HBK Investments, Leon Cooperman’s Omega Advisors, and Mark McGoldrick and Jason Maynard’s Mount Kellett Capital Management.

Seeing as WPX Energy Inc (NYSE:WPX) has experienced declining sentiment from hedge fund managers, it’s safe to say that there was a specific group of funds that decided to sell off their positions entirely heading into the second quarter. Interestingly, Anand Parekh‘s Alyeska Investment Group dropped the biggest investment of the 700 funds monitored by Insider Monkey, worth an estimated $10.6 million in stock, made up of 911,575 shares. Marc Lisker, Glenn Fuhrman and John Phelan of MSDC Management were right behind this move, as the fund managers said goodbye to 818,378 shares worth about $9.52 million.

Despite the slightly bearish outlook of hedge funds, given that the firm is reporting that it will be increasing its assets and output with the acquisition of RKI Exploration & Production, we believe a long position in WPX Energy Inc (NYSE:WPX) could be a good investment at the moment.

Disclosure: None