BlueMountain Capital Management LLC trimmed its holdings in shares of W&T Offshore, Inc. (NYSE:WTI) by 42.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 139,939 shares of the oil and gas company’s stock after selling 103,089 shares during the period. BlueMountain Capital Management LLC owned 0.10% of W&T Offshore worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the stock. Meeder Asset Management Inc. boosted its position in W&T Offshore by 184.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 25,304 shares of the oil and gas company’s stock worth $181,000 after purchasing an additional 16,408 shares during the period. New York State Common Retirement Fund boosted its position in W&T Offshore by 23.8% during the 1st quarter. New York State Common Retirement Fund now owns 89,163 shares of the oil and gas company’s stock worth $395,000 after purchasing an additional 17,163 shares during the period. Teacher Retirement System of Texas purchased a new stake in W&T Offshore during the 2nd quarter worth $141,000. Thompson Davis & CO. Inc. purchased a new stake in W&T Offshore during the 2nd quarter worth $152,000. Finally, Cubist Systematic Strategies LLC boosted its position in W&T Offshore by 103.1% during the 1st quarter. Cubist Systematic Strategies LLC now owns 45,271 shares of the oil and gas company’s stock worth $201,000 after purchasing an additional 22,977 shares during the period. 57.60% of the stock is owned by hedge funds and other institutional investors.
Shares of WTI stock opened at $6.80 on Friday. W&T Offshore, Inc. has a 12 month low of $2.15 and a 12 month high of $9.12. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of -1.50. The firm has a market capitalization of $953.20 million, a price-to-earnings ratio of 12.36 and a beta of 2.65.
W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. W&T Offshore had a net margin of 16.40% and a negative return on equity of 18.00%. The firm had revenue of $149.60 million for the quarter, compared to analyst estimates of $150.66 million. During the same quarter in the previous year, the business posted $0.22 EPS. The firm’s revenue was up 21.3% compared to the same quarter last year. sell-side analysts forecast that W&T Offshore, Inc. will post 0.81 EPS for the current fiscal year.
A number of analysts recently weighed in on the stock. KLR Group reaffirmed a “sell” rating and set a $6.25 price target on shares of W&T Offshore in a research report on Monday, August 20th. Zacks Investment Research cut shares of W&T Offshore from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. Seaport Global Securities reiterated a “buy” rating on shares of W&T Offshore in a report on Wednesday, July 25th. Capital One Financial lowered shares of W&T Offshore from an “equal weight” rating to an “underweight” rating in a report on Thursday, May 31st. Finally, Roth Capital assumed coverage on shares of W&T Offshore in a report on Wednesday, May 23rd. They issued a “neutral” rating and a $8.75 price objective on the stock. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $8.00.
W&T Offshore Profile
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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