Is W&T Offshore, Inc. (WTI) Going to Burn These Hedge Funds?

As industrywide interest jumped, key hedge funds were breaking ground themselves. Centerbridge Partners initiated the biggest position in W&T Offshore, Inc. (NYSE:WTI). Centerbridge Partners had $7.3 million invested in the company at the end of the quarter. William Michaelcheck’s Mariner Investment Group also made a $0.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Andrew Sandler’s Sandler Capital Management, Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners, and Ken Griffin’s Citadel Investment Group.

Let’s go over hedge fund activity in other stocks similar to W&T Offshore, Inc. (NYSE:WTI). These stocks are Gulf Island Fabrication, Inc. (NASDAQ:GIFI), Hutchinson Technology Incorporated (NASDAQ:HTCH), Kura Oncology Inc (NASDAQ:KURA), and American Farmland Co (NYSEMKT:AFCO). This group of stocks’ market caps are closest to WTI’s market cap.

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $17 million. That figure was $10 million in WTI’s case. Gulf Island Fabrication, Inc. (NASDAQ:GIFI) is the most popular stock in this table. On the other hand Kura Oncology Inc (NASDAQ:KURA) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks W&T Offshore, Inc. (NYSE:WTI) 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