Industry News

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

By August 26, 2019 No Comments

Meeder Asset Management Inc. increased its position in shares of W&T Offshore, Inc. (NYSE:WTI) by 26.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,613 shares of the oil and gas company’s stock after buying 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 reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Impact Advisors LLC boosted its holdings in shares of W&T Offshore by 43.9% during the 2nd quarter. Capital Impact Advisors LLC now owns 383,612 shares of the oil and gas company’s stock worth $1,826,000 after buying an additional 116,991 shares during the period. MetLife Investment Advisors LLC boosted its holdings in shares of W&T Offshore by 23.1% during the 1st quarter. MetLife Investment Advisors LLC now owns 44,133 shares of the oil and gas company’s stock worth $305,000 after buying an additional 8,279 shares during the period. Hancock Whitney Corp boosted its holdings in shares of W&T Offshore by 11.1% during the 1st quarter. Hancock Whitney Corp now owns 128,218 shares of the oil and gas company’s stock worth $884,000 after buying an additional 12,858 shares during the period. Bailard Inc. bought a new stake in shares of W&T Offshore during the 1st quarter worth $186,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of W&T Offshore by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,042,631 shares of the oil and gas company’s stock worth $20,776,000 after buying an additional 196,139 shares during the period. 59.11% of the stock is owned by institutional investors and hedge funds.

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

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

In related news, Director Virginia Boulet purchased 7,000 shares of W&T Offshore stock in a transaction on Friday, June 7th. The stock was purchased at an average cost of $4.34 per share, with a total value of $30,380.00. Following the acquisition, the director now directly owns 215,373 shares in the company, valued at $934,718.82. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tracy W. Krohn purchased 15,000 shares of W&T Offshore stock in a transaction on Wednesday, July 10th. The stock was bought at an average cost of $4.65 per share, with a total value of $69,750.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 173,913 shares of company stock valued at $783,229. Insiders own 33.60% of the company’s stock.

WTI has been the subject of several recent analyst reports. Roth Capital set a $11.00 price objective on shares of W&T Offshore and gave the stock a “buy” rating in a 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 report on Monday, August 12th. Zacks Investment Research downgraded shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 30th. ValuEngine downgraded shares of W&T Offshore from a “sell” rating to a “strong sell” rating in a report on Friday, May 3rd. Finally, Capital One Financial raised shares of W&T Offshore from an “underweight” rating to an “equal weight” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. W&T Offshore presently has a consensus rating of “Hold” and an average target price of $9.67.

About W&T Offshore

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: What is total return in investing?

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

Receive News & Ratings for W&T Offshore Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for W&T Offshore and related companies with MarketBeat.com’s FREE daily email newsletter.



Source link