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Are Hedge Funds Buying WTI, CRC, DNR, WLL, and OAS?

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May. 29 2018, Updated 8:22 a.m. ET

13F filings: hedge fund statistics for W&T Offshore

In Q1 2018, 12 hedge funds bought W&T Offshore (WTI) stock, and 23 hedge funds sold WTI stock. Thus, in Q1 2018, total selling hedge funds outnumbered total buying hedge funds by 11. As of March 31, 31 hedge funds held WTI in their portfolio. Out of these, only one hedge fund has WTI in its top ten holdings.

Even when looked at from the aggregate number of shares point of view, for Q1 2018, 13F filing hedge funds decreased their aggregate WTI holdings by 24.2% from ~17.3 million shares to ~13.1 million shares.

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Hedge fund statistics for CRC, DNR, WLL, and OAS

Just like WTI, hedge funds sold Oasis Petroleum (OAS) stock in Q1 2018. Hedge funds decreased their aggregate holdings in OAS by 2.2%, or from ~88.3 million shares to ~86.4 million shares.

In Q1 2018, hedge funds increased their aggregate California Resources (CRC) holdings by 25.7%, or from ~11.2 million shares to ~14.1 million shares.

Even Denbury Resources (DNR) and Whiting Petroleum (WLL) were bought by hedge funds. In Q1 2018, hedge funds increased their aggregate holdings in DNR and WLL by 45.2% and 5.0%, respectively. In Q1 2018, hedge funds increased their aggregate holdings in DNR from ~18.5 million shares to ~26.9 million shares, and in WLL from ~25.8 million shares to ~27.1 million shares.

Form 13F is an SEC mandate that needs to be submitted by all hedge funds who manage more than $100 million in assets. These hedge funds have access to in-depth research and greater capital. Typically, when institutional investors buy a stock, it is a sign that the stock might do well.

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