Is WPX Energy Inc (WPX) A Good Stock To Buy?

Since WPX Energy Inc (NYSE:WPX) has experienced declining sentiment from the aggregate hedge fund industry, it’s safe to say that there is a sect of funds who sold off their entire stakes last quarter. Interestingly, Marc Lisker, Glenn Fuhrman and John Phelan’s MSDC Management dropped the largest stake of the “upper crust” of funds monitored by Insider Monkey, worth about $20.5 million in stock. Stuart J. Zimmer’s fund, Zimmer Partners, also dropped its stock, about $18.6 million worth of WPX shares. These moves are interesting, as total hedge fund interest was cut by 7 funds last quarter.

Let’s now take a look at hedge fund activity in other stocks similar to WPX Energy Inc (NYSE:WPX). We will take a look at Associated Banc Corp (NYSE:ASB), EnerSys (NYSE:ENS), Masimo Corporation (NASDAQ:MASI), and Janus Capital Group Inc (NYSE:JNS). This group of stocks’ market values are similar to WPX’s market value.

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $163 million. That figure was a whooping $676 million in WPX’s case. Masimo Corporation (NASDAQ:MASI) is the most popular stock in this table. On the other hand Associated Banc Corp (NYSE:ASB) is the least popular one with only 12 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.

Disclosure: none.