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

With a general bullishness amongst the heavyweights, some big names have jumped into WPX Energy Inc (NYSE:WPX) headfirst. Alyeska Investment Group, managed by Anand Parekh, assembled the largest position in WPX Energy Inc (NYSE:WPX). Alyeska Investment Group had $38.5 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also initiated an $27.4 million position during the quarter. The other funds with new positions in the stock are Marc Lisker, Glenn Fuhrman and John Phelan’s MSDC Management, Bernard Selz’s Selz Capital, and Clint Carlson’s Carlson Capital.

Let’s also examine hedge fund activity in other stocks similar to WPX Energy Inc (NYSE:WPX). We will take a look at OmniVision Technologies, Inc. (NASDAQ:OVTI), Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY), Dean Foods Co (NYSE:DF), and Eros International plc (NYSE:EROS). This group of stocks’ market valuations are closest to WPX’s market valuation.

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $172 million. That figure was $530 million in WPX’s case. OmniVision Technologies, Inc. (NASDAQ:OVTI) is the most popular stock in this table. On the other hand Eros International plc (NYSE:EROS) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks WPX Energy Inc (NYSE:WPX) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.