Talisman Energy Inc. (USA) (NYSE:TLM) stocks are declining significantly


Dallas, Texas 09/04/2013 (Financialstrend) – It had been observed that with the preparation of the third quarter, there were totally 21 hedge funds which were holding long position in the stock of Talisman Energy Inc. (USA) (NYSE:TLM). This was observed to be a decline of 5% from the previous quarter and there had been quite a fall of interest experienced by this stock from the hedge fund managers during this period. There were few hedge fund managers who had completely shed off their stake in this energy sector stock and the largest sell off among them was that of Highfields Capital Management which had sold shares worth $31.7 million. Next to them was the hedge fund of Vinik Asset Management which had sold off shares worth $10.7 million.

Among the funds which remained bullish on this stock of Talisman Energy, Corvex Capital was observed to be holding the largest position with shares worth $103.6 million comprising of 1.9% of the total fund portfolio. The second largest position was occupied by Senator Investment Group which was found to be holding shares worth $91.4 million to comprise of 1.4% of the total portfolio.

Shares of Talisman Energy Inc. (USA) (NYSE:TLM) dipped on Tuesday to close at $10.66 per share, a decrease of 0.56% over the previous close. The stock prices for the day traded in the range of $10.62 to $10.89 per share. For the past 52 weeks, the stock had presented low price at $10.34 and high price at $15.21 per share. The stock managed to pull in around 3.11 million trades on Tuesday, while the average level for the past 30 days of trading is at 3.70 million shares per day. There are presently 1.04 billion outstanding shares for the company and the institutional ownership is at 75%.