Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Here’s Why These Five Stocks Are Advancing on Monday

Page 1 of 2

The US market is trading up on Monday, following European markets, which spiked up on news about new polls showing that support for Brexit has fallen, and more people are now behind the idea of the UK remaining a member of the European Union.

Among the US-traded stocks that are surging on Monday are Marathon Oil Corporation (NYSE:MRO), Freeport-McMoRan Inc (NYSE:FCX), Caterpillar Inc. (NYSE:CAT), Globalstar, Inc. (NYSEMKT:GSAT) and Lpath, Inc. (NASDAQ:LPTN). So, let’s take a look into the events behind the move of these stocks, and into what the hedge funds in our database think about the companies in question.

Through extensive research, we determined that imitating some of the picks of hedge funds and other institutional investors can help generate market-beating returns over the long run. The key is to focus on the small-cap picks of these investors, since they are usually less followed by the broader market and are less price-efficient. Our backtests that covered the period between 1999 and 2012, showed that following the 15 most popular small-caps among hedge funds can help a retail investor beat the market by an average of 95 basis points per month (see more details here).

market, stock, money, index, graph, credit, globe, advisor, economics, ticker, business, income, arrow, success, diagram, wealth, data, analysis, report, monitoring,

Horoscope/Shutterstock.com

Marathon Oil To Acquire PayRock Energy

Let’s start with Marathon Oil Corporation (NYSE:MRO), whose stock has gained around 9.6% on Monday afternoon after the company announced it will acquire PayRock Energy Holdings from venture capital firm EnCap Investments, for $888 million. The move will allow to “expand the quality and scale of Marathon Oil’s existing portfolio in one of the best unconventional oil plays in the U.S. [Oklahoma],” Marathon’s CEO Lee Tillman explained.

Among the funds we track, 33 were long Marathon Oil Corporation (NYSE:MRO) at the end of the first quarter of 2016, up from 27 in the previous quarter. Among the newcomers were Stuart J. Zimmer’s Zimmer Partners, which acquired more than 14 million shares (or about $156 million in stock) during the first quarter, and Israel Englander’s Millennium Management, which initiated a stake comprising 10.33 million shares over the January-March period.

Follow Marathon Oil Corp (NYSE:MRO)
Trade (NYSE:MRO) Now!

Freeport-McMoRan Up On Oil Rebound

Next up is Freeport-McMoRan Inc (NYSE:FCX), which is up by almost 6% today, helped by a rebound in oil prices, which rose more than 2% on Monday, with July contracts getting close to $50 a barrel. As of the end of the first quarter, 34 funds in our database are long Freeport-McMoRan Inc (NYSE:FCX), down from 37 funds a quarter earlier. As it is widely known, Carl Icahn’s Icahn Capital LP owns the largest stake among institutional investors; the firm last disclosed ownership of 104 million shares, worth more than $1 billion by March 31.

Follow Freeport-Mcmoran Inc (NYSE:FCX)
Trade (NYSE:FCX) Now!

On the next page we will look into three more large gainers.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
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 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!