California Public Employees Retirement System lowered its position in shares of W&T Offshore, Inc. (NYSE:WTI) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,472,361 shares of the oil and gas company’s stock after selling 102,206 shares during the quarter. California Public Employees Retirement System owned approximately 1.07% of W&T Offshore worth $4,491,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Virtu KCG Holdings LLC increased its holdings in shares of W&T Offshore by 9.0% in the second quarter. Virtu KCG Holdings LLC now owns 125,107 shares of the oil and gas company’s stock valued at $245,000 after purchasing an additional 10,278 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of W&T Offshore by 62.0% in the second quarter. New York State Common Retirement Fund now owns 52,000 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 19,899 shares during the last quarter. Zacks Investment Management increased its holdings in shares of W&T Offshore by 68.8% in the second quarter. Zacks Investment Management now owns 66,916 shares of the oil and gas company’s stock valued at $131,000 after purchasing an additional 27,270 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of W&T Offshore by 58.5% in the second quarter. Alliancebernstein L.P. now owns 91,308 shares of the oil and gas company’s stock valued at $179,000 after purchasing an additional 33,700 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of W&T Offshore in the third quarter valued at approximately $120,000. 49.08% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on WTI shares. Zacks Investment Research cut W&T Offshore from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Capital One Financial cut W&T Offshore from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 10th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock currently has a consensus rating of “Sell” and an average price target of $2.50.
W&T Offshore, Inc. (NYSE WTI) traded up $0.03 on Thursday, hitting $4.87. The stock had a trading volume of 2,009,690 shares, compared to its average volume of 3,262,563. W&T Offshore, Inc. has a 1-year low of $1.81 and a 1-year high of $5.34. The stock has a market capitalization of $646.38, a price-to-earnings ratio of 9.37 and a beta of 2.49. 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 released its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. The business had revenue of $110.30 million during the quarter, compared to analyst estimates of $119.50 million. W&T Offshore had a negative return on equity of 10.86% and a net margin of 15.38%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted ($0.24) earnings per share. research analysts expect that W&T Offshore, Inc. will post 0.48 earnings per share for the current year.
In related news, insider John D. Gibbons sold 29,000 shares of W&T Offshore stock in a transaction on Monday, December 18th. The stock was sold at an average price of $2.79, for a total value of $80,910.00. Following the completion of the transaction, the insider now directly owns 476,030 shares in the company, valued at $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 directly owns 366,592 shares of the company’s stock, valued at $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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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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