GSA Capital Partners LLP purchased a new stake in shares of W&T Offshore, Inc. (NYSE:WTI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 460,969 shares of the oil and gas company’s stock, valued at approximately $1,406,000. GSA Capital Partners LLP owned about 0.33% of W&T Offshore at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Morgan Stanley lifted its position in W&T Offshore by 247.6% in the first quarter. Morgan Stanley now owns 503,827 shares of the oil and gas company’s stock valued at $1,396,000 after buying an additional 358,874 shares during the last quarter. Systematic Financial Management LP acquired a new stake in shares of W&T Offshore during the third quarter worth about $2,227,000. First Quadrant L P CA acquired a new stake in shares of W&T Offshore during the third quarter worth about $961,000. Macquarie Group Ltd. acquired a new stake in shares of W&T Offshore during the third quarter worth about $880,000. Finally, Phoenix Investment Adviser LLC acquired a new stake in shares of W&T Offshore during the third quarter worth about $390,000. 47.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of W&T Offshore, Inc. (NYSE WTI) traded up $0.44 during midday trading on Thursday, hitting $4.80. The company had a trading volume of 3,830,000 shares, compared to its average volume of 2,400,000. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of -1.65. W&T Offshore, Inc. has a 52-week low of $1.81 and a 52-week high of $4.91. The firm has a market capitalization of $661.54, a P/E ratio of 9.06 and a beta of 2.49.
W&T Offshore (NYSE:WTI) last released its earnings results on Wednesday, November 1st. The oil and gas company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. W&T Offshore had a negative return on equity of 10.86% and a net margin of 15.38%. The company had revenue of $110.30 million during the quarter, compared to the consensus estimate of $119.50 million. During the same quarter last year, the company earned ($0.24) earnings per share. W&T Offshore’s quarterly revenue was up 2.7% compared to the same quarter last year. research analysts expect that W&T Offshore, Inc. will post 0.48 EPS for the current year.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of W&T Offshore from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Capital One Financial lowered shares of W&T Offshore from an “equal weight” rating to an “underweight” rating in a research note on Wednesday. Four analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company presently has an average rating of “Sell” and a consensus price target of $2.50.
In related news, insider John D. Gibbons sold 29,000 shares of W&T Offshore stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $2.79, for a total transaction of $80,910.00. Following the completion of the sale, the insider now owns 476,030 shares in the company, valued at approximately $1,328,123.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Stephen L. Schroeder sold 18,762 shares of W&T Offshore stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $2.81, for a total value of $52,721.22. Following the sale, the senior vice president now owns 366,592 shares of the company’s stock, valued at approximately $1,030,123.52. The disclosure for this sale can be found here. Company insiders own 32.58% of the company’s stock.
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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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