Vanguard Group Inc. Has $3.59 Million Position in W&T Offshore, Inc. (WTI)

Vanguard Group Inc. cut its position in W&T Offshore, Inc. (NYSE:WTI) by 20.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,832,571 shares of the oil and gas company’s stock after selling 475,939 shares during the quarter. Vanguard Group Inc. owned about 1.33% of W&T Offshore worth $3,592,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in W&T Offshore by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 151,848 shares of the oil and gas company’s stock worth $420,000 after purchasing an additional 8,072 shares during the period. Morgan Stanley boosted its position in W&T Offshore by 247.6% during the first quarter. Morgan Stanley now owns 503,827 shares of the oil and gas company’s stock worth $1,396,000 after purchasing an additional 358,874 shares during the period. Schwab Charles Investment Management Inc. boosted its position in W&T Offshore by 18.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,244,806 shares of the oil and gas company’s stock worth $3,449,000 after purchasing an additional 194,609 shares during the period. Goldman Sachs Group Inc. boosted its position in W&T Offshore by 490.1% during the first quarter. Goldman Sachs Group Inc. now owns 350,171 shares of the oil and gas company’s stock worth $970,000 after purchasing an additional 290,827 shares during the period. Finally, Public Employees Retirement System of Ohio boosted 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 purchasing an additional 1,672 shares during the period. 48.08% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have commented on WTI shares. Zacks Investment Research raised shares of W&T Offshore from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research report on Saturday, September 9th. ValuEngine cut 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 assigned a hold rating to the company. W&T Offshore has a consensus rating of “Hold” and a consensus target price of $2.50.

In other W&T Offshore news, CEO Tracy W. Krohn bought 918,763 shares of W&T Offshore stock in a transaction dated Wednesday, September 13th. The stock was bought at an average price of $2.08 per share, with a total value of $1,911,027.04. Following the completion of the transaction, the chief executive officer now owns 44,532,480 shares in the company, valued at approximately $92,627,558.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Virginia Boulet bought 16,500 shares of W&T Offshore 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 owns 178,047 shares of the company’s stock, valued at approximately $437,995.62. The disclosure for this purchase can be found here. Insiders own 32.58% of the company’s stock.

Shares of W&T Offshore, Inc. (NYSE:WTI) traded up $0.35 during trading on Monday, hitting $3.49. 4,129,300 shares of the stock were exchanged, compared to its average volume of 1,892,753. The company has a market capitalization of $481.00, a PE ratio of 7.27 and a beta of 2.50. W&T Offshore, Inc. has a 52 week low of $1.81 and a 52 week high of $3.69. The company has a debt-to-equity ratio of -1.65, a quick ratio of 1.22 and a current ratio of 1.22.

W&T Offshore (NYSE:WTI) last announced its earnings results on Wednesday, November 1st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.06. The company had revenue of $110.30 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.24) earnings per share. equities analysts anticipate that W&T Offshore, Inc. will post 0.51 EPS for the current year.

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About W&T Offshore

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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