Virtu Financial LLC lifted its position in shares of W&T Offshore, Inc. (NYSE:WTI) by 150.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 26,471 shares of the oil and gas company’s stock after acquiring an additional 15,905 shares during the quarter. Virtu Financial LLC’s holdings in W&T Offshore were worth $182,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of WTI. Creative Planning purchased a new position in shares of W&T Offshore in the fourth quarter worth $43,000. Cigna Investments Inc. New raised its stake in shares of W&T Offshore by 38.5% in the fourth quarter. Cigna Investments Inc. New now owns 15,322 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 4,256 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of W&T Offshore in the fourth quarter worth $70,000. Legal & General Group Plc raised its stake in shares of W&T Offshore by 22.9% in the fourth quarter. Legal & General Group Plc now owns 17,914 shares of the oil and gas company’s stock worth $74,000 after purchasing an additional 3,335 shares during the last quarter. Finally, Cipher Capital LP purchased a new position in shares of W&T Offshore in the fourth quarter worth $76,000. Institutional investors own 64.36% of the company’s stock.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut W&T Offshore from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. ValuEngine upgraded W&T Offshore from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. Finally, Stifel Nicolaus initiated coverage on W&T Offshore in a research note on Thursday, March 7th. They issued a “buy” rating and a $10.00 price target for the company. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. W&T Offshore presently has an average rating of “Hold” and an average target price of $8.75.
W&T Offshore stock traded down $0.37 during mid-day trading on Wednesday, reaching $4.59. 2,601,800 shares of the stock traded hands, compared to its average volume of 2,609,373. W&T Offshore, Inc. has a 12-month low of $3.62 and a 12-month high of $9.88. The stock has a market cap of $697.59 million, a PE ratio of 4.54 and a beta of 2.85.
W&T Offshore (NYSE:WTI) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.06). W&T Offshore had a net margin of 30.83% and a negative return on equity of 29.98%. The company had revenue of $116.08 million for the quarter, compared to the consensus estimate of $120.51 million. During the same period in the prior year, the firm posted $0.19 EPS. The business’s revenue for the quarter was down 13.5% on a year-over-year basis. Equities research analysts anticipate that W&T Offshore, Inc. will post 0.46 EPS for the current fiscal year.
In related news, Director Stuart B. Katz purchased 10,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was acquired at an average price of $5.10 per share, with a total value of $51,000.00. Following the completion of the acquisition, the director now owns 237,089 shares of the company’s stock, valued at approximately $1,209,153.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shahid Ghauri acquired 7,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of $6.01 per share, with a total value of $42,070.00. Following the purchase, the insider now owns 8,000 shares of the company’s stock, valued at $48,080. The disclosure for this purchase can be found here. Insiders have acquired 27,000 shares of company stock valued at $158,170 in the last three months. 33.60% of the stock is currently owned by corporate insiders.
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W&T Offshore Company 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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