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What Do Hedge Funds Think of WPX Energy Inc (WPX)?

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We at Insider Monkey have gone over 700 13F filings that hedge funds and prominent investors are required to file by the government. The 13F filings show the funds’ and investors’ portfolio positions as of September 30. In this article we look at what those investors think of WPX Energy Inc (NYSE:WPX).

WPX Energy Inc (NYSE:WPX) has experienced an increase in support from the world’s most elite money managers in recent months. WPX was in 37 hedge funds’ portfolios at the end of September. There were 26 hedge funds in our database with WPX positions at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as OmniVision Technologies, Inc. (NASDAQ:OVTI), Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY), and Dean Foods Co (NYSE:DF) to gather more data points.

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Keeping this in mind, let’s take a gander at the key action encompassing WPX Energy Inc (NYSE:WPX).

What does the smart money think about WPX Energy Inc (NYSE:WPX)?

At Q3’s end, a total of 37 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 42% from the second quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were upping their holdings meaningfully (or already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Steve Cohen’s Point72 Asset Management has the number one position in WPX Energy Inc (NYSE:WPX), worth close to $88 million, corresponding to 0.7% of its total 13F portfolio. The second most bullish fund manager is Carlson Capital, led by Clint Carlson, holding an $86.1 million position; 1% of its 13F portfolio is allocated to the company. Remaining professional money managers with similar optimism encompass Israel Englander’s Millennium Management, Anand Parekh’s Alyeska Investment Group and David Costen Haley’s HBK Investments.

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