BlackRock Inc. lifted its holdings in shares of W&T Offshore, Inc. (NYSE:WTI) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,511,169 shares of the oil and gas company’s stock after buying an additional 576,654 shares during the quarter. BlackRock Inc. owned about 4.72% of W&T Offshore worth $21,551,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in W&T Offshore by 80.7% during the fourth quarter. Bank of New York Mellon Corp now owns 758,108 shares of the oil and gas company’s stock valued at $2,510,000 after purchasing an additional 338,561 shares during the period. Wells Fargo & Company MN grew its holdings in W&T Offshore by 2,013.2% during the fourth quarter. Wells Fargo & Company MN now owns 520,604 shares of the oil and gas company’s stock valued at $1,723,000 after purchasing an additional 495,968 shares during the period. KBC Group NV acquired a new position in W&T Offshore during the fourth quarter valued at approximately $474,000. American Century Companies Inc. acquired a new position in W&T Offshore during the fourth quarter valued at approximately $246,000. Finally, Alambic Investment Management L.P. grew its holdings in W&T Offshore by 2.9% during the fourth quarter. Alambic Investment Management L.P. now owns 1,295,060 shares of the oil and gas company’s stock valued at $4,287,000 after purchasing an additional 36,010 shares during the period. Institutional investors own 48.69% of the company’s stock.
A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of W&T Offshore from a “strong sell” rating to a “hold” rating in a report on Saturday, February 10th. Capital One Financial upgraded shares of W&T Offshore from an “underweight” rating to an “equal weight” rating in a report on Monday, March 12th. Finally, ValuEngine cut shares of W&T Offshore from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. Four investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. The company currently has a consensus rating of “Sell” and an average price target of $2.88.
Shares of NYSE WTI opened at $4.80 on Tuesday. The company has a market cap of $689.89, a P/E ratio of 8.57 and a beta of 2.77. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of -1.69. W&T Offshore, Inc. has a 52-week low of $1.81 and a 52-week high of $5.34.
W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Wednesday, February 28th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. The firm had revenue of $129.10 million during the quarter. W&T Offshore had a net margin of 16.36% and a negative return on equity of 13.99%. equities research analysts predict that W&T Offshore, Inc. will post 0.58 earnings per share 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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