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Are Hedge Funds Buying OKE, HES, APC, VLO, and COP?

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Hedge fund statistics

In this part, we’ll look at how hedge funds are positioning themselves in the Energy Select Sector SPDR ETF’s (XLE) strongest energy stocks. In Q1 2018, 38 hedge funds bought (created new positions or added to their existing positions) ONEOK (OKE) stock, while 42 hedge funds sold ONEOK (closed their position or reduced their existing positions). 

As of March 31, 70 13F-filing hedge funds held OKE in their portfolio, of which ten had OKE in their top ten holdings. In Q1 2018, 13F-filing hedge funds increased their aggregate OKE holdings by 33.7% to ~72.9 million shares from ~54.6 million.

Hedge funds statistics for HES, APC, VLO, and COP

In Q1 2018, hedge funds also purchased Anadarko Petroleum (APC), Valero Energy (VLO), and ConocoPhillips (COP), increasing their aggregate holdings in the stocks by 3.3%, 0.42%, and 10.7%, respectively. In contrast, they decreased their aggregate holdings in Hess (HES), by ~5.1%.

Form 13F is a US Securities and Exchange Commission mandate that needs to be submitted by hedge funds managing more than $100 million in assets. As these hedge funds have access to in-depth research and greater capital, their purchase of a stock suggests it might do well.

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