Intel (INTC), Alibaba (BABA): 5 Stocks That Hit 52-Week Highs Last Week

Investors Favor WPX

After falling sharply along with the rest of the sector in late-2014, WPX Energy Inc (NYSE:WPX) is one of the E&Ps leading the come-back. WPX hit a new 52-week high on Friday as investors buy the stock due to the company’s Permian acreage and in anticipation of a potential Russia/OPEC deal to freeze production later this month. Although WPX isn’t a pure Permian play, it has substantial holdings in the area. Some short covering could also be playing a part in the stock’s rather rapid rise. Clint Carlson‘s Carlson Capital trimmed its position in WPX Energy Inc (NYSE:WPX) by 7% in the second quarter, to 6.42 million shares at the end of June.

Long-Term Investors Buy Into P&G’s Comeback

Although the U.S. dollar is still strong and some of P&G’s brands haven’t reached their full potential, many investors believe that Procter & Gamble Co (NYSE:PG) will succeed in its turnaround plan. Shares of the dividend aristocrat hit a 52-week high this week as investors become more confident that the company will begin to increase its bottom-line results consistently again. P&G management’s efficiency and cost initiatives have widened margins while the company’s efforts to shed lower-tier brands have improved returns on capital. 56 funds that we track owned shares of Procter & Gamble Co (NYSE:PG) as of the most recent 13F reporting period, down by three funds from the March 31 reporting period.

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