Lone Pine Resources Inc (NYSE:LPR) has seen a decrease in hedge fund interest lately.
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With these “truths” under our belt, we’re going to take a peek at the recent action regarding Lone Pine Resources Inc (NYSE:LPR).
What does the smart money think about Lone Pine Resources Inc (NYSE:LPR)?
In preparation for this year, a total of 9 of the hedge funds we track were bullish in this stock, a change of -10% from one quarter earlier. With hedgies’ capital changing hands, there exists a few key hedge fund managers who were increasing their holdings significantly.
Of the funds we track, Owl Creek Asset Management, managed by Jeffrey Altman, holds the most valuable position in Lone Pine Resources Inc (NYSE:LPR). Owl Creek Asset Management has a $7.5 million position in the stock, comprising 0.2% of its 13F portfolio. Sitting at the No. 2 spot is Keith Meister of Corvex Capital, with a $4.8 million position; 0.2% of its 13F portfolio is allocated to the company. Some other hedgies with similar optimism include Ryan Schaper’s Point Lobos Capital, D. E. Shaw’s D E Shaw and Jim Simons’s Renaissance Technologies.
Judging by the fact that Lone Pine Resources Inc (NYSE:LPR) has witnessed a declination in interest from the entirety of the hedge funds we track, it’s easy to see that there exists a select few funds that elected to cut their positions entirely last quarter. It’s worth mentioning that Israel Englander’s Millennium Management sold off the largest position of the “upper crust” of funds we key on, worth about $0.3 million in stock.. Ric Dillon’s fund, Diamond Hill Capital, also dropped its stock, about $0.3 million worth. These moves are important to note, as total hedge fund interest was cut by 1 funds last quarter.
Insider trading activity in Lone Pine Resources Inc (NYSE:LPR)
Insider buying is at its handiest when the company in question has seen transactions within the past six months. Over the latest half-year time period, Lone Pine Resources Inc (NYSE:LPR) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Lone Pine Resources Inc (NYSE:LPR). These stocks are Crimson Exploration Inc. (NASDAQ:CXPO), Saratoga Resources, Inc. (NYSEAMEX:SARA), Gastar Exploration Limited (USA) (NYSEAMEX:GST), and CAMAC Energy Inc (NYSEAMEX:CAK). All of these stocks are in the independent oil & gas industry and their market caps are closest to LPR’s market cap.