W&T Offshore, Inc. (WTI) Position Lowered by Panagora Asset Management Inc.

Panagora Asset Management Inc. reduced its stake in W&T Offshore, Inc. (NYSE:WTI) by 16.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,870,332 shares of the oil and gas company’s stock after selling 368,613 shares during the quarter. Panagora Asset Management Inc. owned about 1.34% of W&T Offshore worth $18,030,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. PEAK6 Investments L.P. lifted its stake in shares of W&T Offshore by 32.9% in the second quarter. PEAK6 Investments L.P. now owns 37,582 shares of the oil and gas company’s stock worth $269,000 after acquiring an additional 9,294 shares during the period. James Investment Research Inc. lifted its stake in shares of W&T Offshore by 9.7% in the third quarter. James Investment Research Inc. now owns 126,420 shares of the oil and gas company’s stock worth $1,219,000 after acquiring an additional 11,205 shares during the period. Raymond James & Associates acquired a new position in shares of W&T Offshore in the second quarter worth approximately $101,000. Virginia Retirement Systems ET AL lifted its stake in shares of W&T Offshore by 12.6% in the third quarter. Virginia Retirement Systems ET AL now owns 131,300 shares of the oil and gas company’s stock worth $1,266,000 after acquiring an additional 14,700 shares during the period. Finally, IFG Advisory LLC acquired a new position in shares of W&T Offshore in the third quarter worth approximately $152,000. 64.00% of the stock is currently owned by institutional investors.

W&T Offshore stock opened at $5.81 on Friday. W&T Offshore, Inc. has a one year low of $2.60 and a one year high of $9.88. The company has a market capitalization of $804.31 million, a P/E ratio of 6.08 and a beta of 2.74.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings results on Wednesday, October 31st. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.06. W&T Offshore had a negative return on equity of 26.51% and a net margin of 23.54%. The firm had revenue of $153.50 million for the quarter, compared to analyst estimates of $146.97 million. During the same period in the previous year, the firm earned $0.04 earnings per share. The company’s revenue was up 39.2% compared to the same quarter last year. Analysts predict that W&T Offshore, Inc. will post 0.95 EPS for the current year.

WTI has been the topic of a number of recent analyst reports. Zacks Investment Research lowered W&T Offshore from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. KLR Group reaffirmed a “sell” rating and issued a $6.25 price objective on shares of W&T Offshore in a research note on Monday, August 20th. Roth Capital raised W&T Offshore from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $8.50 to $10.75 in a research note on Monday, October 15th. Finally, ValuEngine lowered W&T Offshore from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Three analysts have rated the stock with a sell rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $7.92.

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About W&T Offshore

W&T Offshore, Inc, an independent oil and natural gas producer, acquires, explores for, and develops oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interests in approximately 49 offshore fields in federal and state waters.

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

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