Is ONE Gas Inc (OGS) A Good Stock To Buy?

Since ONE Gas Inc (NYSE:OGS) has gone through falling interest from the entirety of the hedge funds we track, we can see that there were a few funds who sold off their positions entirely heading into Q4. Interestingly, Andre F. Perold’s HighVista Strategies dropped the largest investment of all the investors watched by Insider Monkey, valued at close to $2.2 million in stock. Matthew Hulsizer’s fund, PEAK6 Capital Management, also sold off its call options, about $0.4 million worth.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as ONE Gas Inc (NYSE:OGS) but similarly valued. These stocks are Hawaiian Electric Industries, Inc. (NYSE:HE), Snyder S Lance Inc (NASDAQ:LNCE), Yelp Inc (NYSE:YELP), and The Hanover Insurance Group, Inc. (NYSE:THG). All of these stocks’ market caps are closest to OGS’s market cap.

As you can see these stocks had an average of 19.25 hedge funds with bullish positions and the average amount invested in these stocks was $378 million. That figure was $67 million in OGS’s case. Yelp Inc (NYSE:YELP) is the most popular stock in this table. On the other hand Snyder S Lance Inc (NASDAQ:LNCE) is the least popular one with only 8 bullish hedge fund positions. ONE Gas Inc (NYSE:OGS) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard YELP might be a better candidate to consider taking a long position in.