The market reaction to WPX Energy Inc (NYSE:WPX)'s announcement is in contrast to the decrease in enthusiasm from the smart money in the first quarter of the year, who clearly weren't anticipating any such moves. WPX was in 30 hedge funds' portfolios at the end of the first quarter of 2015, down from 33 hedge funds at the end of the previous quarter. The total value of holdings owned by hedge funds who were still long in WPX by the end of the first quarter among those Insider Monkey tracks also decreased by 7.05% to $404.48 million. However, it should be noted that the stock's price declined by 6.02% in the first quarter, so the actual decline in holdings through selling of collective shares was minimal.