Columbia Pacific Advisors LLC reduced its position in W&T Offshore, Inc. (NYSE:WTI) by 18.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 546,075 shares of the oil and gas company’s stock after selling 125,920 shares during the period. W&T Offshore comprises 2.7% of Columbia Pacific Advisors LLC’s holdings, making the stock its 15th largest position. Columbia Pacific Advisors LLC owned about 0.40% of W&T Offshore worth $1,808,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of WTI. New York State Common Retirement Fund lifted its stake in W&T Offshore by 62.0% in the 2nd 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. SG Americas Securities LLC acquired a new stake in W&T Offshore in the 3rd quarter valued at about $120,000. The Manufacturers Life Insurance Company raised its holdings in W&T Offshore by 782.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 82,579 shares of the oil and gas company’s stock valued at $162,000 after acquiring an additional 73,223 shares during the period. Alliancebernstein L.P. raised its holdings in W&T Offshore by 58.5% in the 2nd quarter. Alliancebernstein L.P. now owns 91,308 shares of the oil and gas company’s stock valued at $179,000 after acquiring an additional 33,700 shares during the period. Finally, Jefferies Group LLC bought a new position in W&T Offshore in the 4th quarter valued at about $191,000. Institutional investors and hedge funds own 48.72% of the company’s stock.
W&T Offshore, Inc. (WTI) opened at $3.78 on Tuesday. W&T Offshore, Inc. has a fifty-two week low of $1.81 and a fifty-two week high of $5.34. The firm has a market cap of $520.97, a PE ratio of 2.80 and a beta of 2.90. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of -1.69.
Several research firms have weighed in on WTI. Capital One Financial raised shares of W&T Offshore from an “underweight” rating to an “equal weight” rating in a report on Monday. Zacks Investment Research raised shares of W&T Offshore from a “strong sell” rating to a “hold” rating in a report on Saturday, February 10th. Finally, ValuEngine cut shares of W&T Offshore from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $2.88.
In other news, SVP Stephen L. Schroeder sold 18,762 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $2.81, for a total transaction of $52,721.22. Following the transaction, the senior vice president now directly owns 366,592 shares of the company’s stock, valued at $1,030,123.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John D. Gibbons sold 29,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $2.79, for a total transaction of $80,910.00. Following the transaction, the insider now directly owns 476,030 shares in the company, valued at $1,328,123.70. The disclosure for this sale can be found here. 32.58% of the stock is currently owned by company insiders.
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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