What Makes W&T Offshore (WTI) a Favorite Stock?

Kingdom Capital Advisors, a private investment firm, released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy returned 7.19% net of fees in the fourth quarter compared to 7.56% for the S&P 500 and 7.09% for the Russell 3000. The strategy returned 23.21% (net) since inception on January 11, 2022, compared to 40% for the S&P 500 index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Kingdom Capital Advisors highlighted stocks like W&T Offshore, Inc. (NYSE:WTI) in the fourth quarter 2022 investor letter. Headquartered in Houston, Texas, W&T Offshore, Inc. (NYSE:WTI) engages in the production, exploration, and development of oil and natural gas. On April 6, 2023, W&T Offshore, Inc. (NYSE:WTI) stock closed at $5.06 per share. One-month return of W&T Offshore, Inc. (NYSE:WTI) was -6.47%, and its shares gained 19.62% of their value over the last 52 weeks. W&T Offshore, Inc. (NYSE:WTI) has a market capitalization of $759.202 million.

Kingdom Capital Advisors made the following comment about W&T Offshore, Inc. (NYSE:WTI) in its Q4 2022 investor letter:

W&T Offshore, Inc. (NYSE:WTI) was our favorite trading vehicle, taking advantage of its volatile nature and gunslinging risk management department, to ride multiple >100% moves in the stock during 2022. WTI is a Gulf of Mexico E&P with a colorful CEO, no capital return plan, a valuable pile of reserves, and a slug of calls on the price of natural gas. We found this to be an exciting trade to express our belief in energy stocks, and a dangerous place to stay after sentiment peaks.”

Natural Gas

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W&T Offshore, Inc. (NYSE:WTI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held W&T Offshore, Inc. (NYSE:WTI) at the end of the fourth quarter which was 21 in the previous quarter.

We discussed W&T Offshore, Inc. (NYSE:WTI) in another article and shared the list of most promising energy stocks according to analysts. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.