Alliancebernstein L.P. lifted its position in shares of W&T Offshore, Inc. (NYSE:WTI) by 58.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,308 shares of the oil and gas company’s stock after acquiring an additional 33,700 shares during the quarter. Alliancebernstein L.P. owned 0.07% of W&T Offshore worth $179,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Tudor Investment Corp ET AL grew its position in W&T Offshore by 23.3% during the first quarter. Tudor Investment Corp ET AL now owns 39,520 shares of the oil and gas company’s stock worth $109,000 after buying an additional 7,478 shares during the period. Public Employees Retirement System of Ohio grew its position in W&T Offshore by 4.1% during the first quarter. Public Employees Retirement System of Ohio now owns 42,234 shares of the oil and gas company’s stock worth $117,000 after buying an additional 1,672 shares during the period. Prudential Financial Inc. acquired a new position in W&T Offshore during the first quarter worth about $124,000. Creative Planning grew its position in W&T Offshore by 4,406.0% during the second quarter. Creative Planning now owns 104,315 shares of the oil and gas company’s stock worth $204,000 after buying an additional 102,000 shares during the period. Finally, Rhumbline Advisers grew its position in W&T Offshore by 137.0% during the second quarter. Rhumbline Advisers now owns 104,625 shares of the oil and gas company’s stock worth $205,000 after buying an additional 60,480 shares during the period. Institutional investors own 49.46% of the company’s stock.
W&T Offshore, Inc. (WTI) opened at $3.20 on Wednesday. The company has a debt-to-equity ratio of -1.65, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $435.52, a P/E ratio of 6.58 and a beta of 2.51. W&T Offshore, Inc. has a one year low of $1.47 and a one year high of $3.69.
W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.06. The company had revenue of $110.30 million for the quarter, compared to the consensus estimate of $119.50 million. W&T Offshore had a net margin of 15.38% and a negative return on equity of 10.86%. W&T Offshore’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.24) earnings per share. equities analysts expect that W&T Offshore, Inc. will post 0.51 EPS for the current year.
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Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of W&T Offshore from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. ValuEngine lowered shares of W&T Offshore from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. W&T Offshore currently has an average rating of “Hold” and a consensus target price of $2.50.
In other W&T Offshore news, Director Stuart B. Katz acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was bought at an average price of $1.85 per share, with a total value of $92,500.00. Following the completion of the transaction, the director now directly owns 205,113 shares of the company’s stock, valued at $379,459.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Virginia Boulet acquired 16,500 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was acquired at an average cost of $2.46 per share, with a total value of $40,590.00. Following the transaction, the director now directly owns 178,047 shares of the company’s stock, valued at $437,995.62. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 1,388,841 shares of company stock worth $2,804,309. 32.58% of the stock is currently owned by insiders.
W&T Offshore Profile
W&T Offshore, Inc is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico. As of December 31, 2016, the Company had interests in offshore leases covering approximately 750,000 gross acres (450,000 net acres) spanning across the Outer Continental Shelf (OCS) off the coasts of Louisiana, Texas, Mississippi and Alabama.
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