First Quadrant L P CA Invests $961,000 in W&T Offshore, Inc. (WTI) Stock

First Quadrant L P CA acquired a new stake in shares of W&T Offshore, Inc. (NYSE:WTI) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 315,193 shares of the oil and gas company’s stock, valued at approximately $961,000. First Quadrant L P CA owned approximately 0.23% of W&T Offshore at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WTI. JPMorgan Chase & Co. lifted its stake in W&T Offshore by 15,089.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,152,900 shares of the oil and gas company’s stock valued at $6,180,000 after acquiring an additional 3,132,143 shares in the last quarter. Principal Financial Group Inc. bought a new position in W&T Offshore during the 2nd quarter valued at $4,796,000. Chicago Equity Partners LLC bought a new position in W&T Offshore during the 2nd quarter valued at $2,637,000. Spark Investment Management LLC lifted its stake in W&T Offshore by 708.8% during the 2nd quarter. Spark Investment Management LLC now owns 1,113,000 shares of the oil and gas company’s stock valued at $2,181,000 after acquiring an additional 975,391 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in W&T Offshore by 60.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,995,872 shares of the oil and gas company’s stock valued at $3,912,000 after acquiring an additional 751,066 shares in the last quarter. Institutional investors and hedge funds own 49.06% of the company’s stock.

A number of research firms have recently commented on WTI. ValuEngine upgraded W&T Offshore from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut W&T Offshore from a “buy” rating to a “sell” rating in a research note on Friday, July 14th. BidaskClub cut W&T Offshore from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Finally, Barclays PLC reiterated a “sell” rating and set a $1.50 target price on shares of W&T Offshore in a research note on Friday, July 7th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $2.50.

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Shares of W&T Offshore, Inc. (WTI) opened at $3.18 on Friday. The company has a market capitalization of $423.11, a P/E ratio of 6.40 and a beta of 2.51. The company has a debt-to-equity ratio of -1.65, a current ratio of 1.06 and a quick ratio of 1.06.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. The business had revenue of $110.30 million during 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 10.72%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.24) EPS. equities analysts expect that W&T Offshore, Inc. will post 0.52 EPS for the current year.

In other W&T Offshore news, Director Virginia Boulet purchased 16,500 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were bought at an average price of $2.46 per share, for a total transaction of $40,590.00. Following the purchase, the director now directly owns 178,047 shares in the company, valued at approximately $437,995.62. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tracy W. Krohn purchased 918,763 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were acquired at an average price of $2.08 per share, for a total transaction of $1,911,027.04. Following the purchase, the chief executive officer now owns 44,532,480 shares in the company, valued at $92,627,558.40. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,388,841 shares of company stock valued at $2,804,309. Insiders own 32.58% of the company’s stock.

W&T Offshore Company 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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Institutional Ownership by Quarter for W&T Offshore (NYSE:WTI)

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