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Meeder Asset Management Inc. Acquires 7,695 Shares of W&T Offshore, Inc. (NYSE:WTI)

By August 26, 2019 No Comments

Meeder Asset Management Inc. grew its holdings in W&T Offshore, Inc. (NYSE:WTI) by 26.6% during the 2nd quarter, Holdings Channel reports. The firm owned 36,613 shares of the oil and gas company’s stock after purchasing an additional 7,695 shares during the period. Meeder Asset Management Inc.’s holdings in W&T Offshore were worth $181,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Chicago Equity Partners LLC bought a new position in W&T Offshore during the second quarter worth $608,000. Swiss National Bank boosted its position in W&T Offshore by 3.2% during the second quarter. Swiss National Bank now owns 183,200 shares of the oil and gas company’s stock worth $909,000 after purchasing an additional 5,600 shares during the period. Aperio Group LLC boosted its position in W&T Offshore by 79.0% during the second quarter. Aperio Group LLC now owns 24,978 shares of the oil and gas company’s stock worth $124,000 after purchasing an additional 11,027 shares during the period. Great Valley Advisor Group Inc. bought a new position in W&T Offshore during the second quarter worth $116,000. Finally, BNP Paribas Arbitrage SA boosted its position in W&T Offshore by 64.9% during the second quarter. BNP Paribas Arbitrage SA now owns 194,857 shares of the oil and gas company’s stock worth $966,000 after purchasing an additional 76,712 shares during the period. 59.11% of the stock is currently owned by institutional investors.

A number of equities analysts have commented on WTI shares. Zacks Investment Research cut shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Roth Capital set a $11.00 price objective on shares of W&T Offshore and gave the stock a “buy” rating in a research report on Friday, August 16th. Stifel Nicolaus set a $10.00 price objective on shares of W&T Offshore and gave the stock a “buy” rating in a research report on Monday, August 12th. Seaport Global Securities reaffirmed a “buy” rating on shares of W&T Offshore in a research report on Friday, June 21st. Finally, ValuEngine cut shares of W&T Offshore from a “sell” rating to a “strong sell” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.67.

In other W&T Offshore news, CEO Tracy W. Krohn bought 100,000 shares of W&T Offshore stock in a transaction dated Friday, July 12th. The stock was bought at an average price of $4.60 per share, with a total value of $460,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Virginia Boulet bought 7,000 shares of W&T Offshore stock in a transaction dated Friday, June 7th. The stock was acquired at an average cost of $4.34 per share, with a total value of $30,380.00. Following the transaction, the director now owns 215,373 shares of the company’s stock, valued at approximately $934,718.82. The disclosure for this purchase can be found here. In the last three months, insiders bought 173,913 shares of company stock valued at $783,229. 33.60% of the stock is currently owned by company insiders.

Shares of W&T Offshore stock opened at $4.06 on Friday. The firm has a 50-day moving average of $4.52 and a 200-day moving average of $5.20. The stock has a market cap of $620.45 million, a PE ratio of 5.38 and a beta of 2.99. W&T Offshore, Inc. has a 52-week low of $3.62 and a 52-week high of $9.88.

W&T Offshore (NYSE:WTI) last announced its earnings results on Wednesday, July 31st. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.16. The company had revenue of $134.70 million during the quarter, compared to analysts’ expectations of $126.50 million. W&T Offshore had a net margin of 31.72% and a negative return on equity of 31.98%. W&T Offshore’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 earnings per share. Equities analysts anticipate that W&T Offshore, Inc. will post 0.4 EPS for the current year.

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.

Further Reading: CD Ladder

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Institutional Ownership by Quarter for W&T Offshore (NYSE:WTI)

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