Goldman Sachs Group Inc. Decreases Holdings in W&T Offshore, Inc. (WTI)

Goldman Sachs Group Inc. reduced its holdings in shares of W&T Offshore, Inc. (NYSE:WTI) by 38.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 216,049 shares of the oil and gas company’s stock after selling 134,122 shares during the quarter. Goldman Sachs Group Inc. owned 0.16% of W&T Offshore worth $423,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WTI. JPMorgan Chase & Co. grew its stake in W&T Offshore by 15,089.6% during the second quarter. JPMorgan Chase & Co. now owns 3,152,900 shares of the oil and gas company’s stock worth $6,180,000 after buying an additional 3,132,143 shares during the period. Principal Financial Group Inc. purchased a new position in shares of W&T Offshore in the second quarter valued at $4,796,000. Chicago Equity Partners LLC purchased a new position in shares of W&T Offshore in the second quarter valued at $2,637,000. Spark Investment Management LLC boosted its stake in shares of W&T Offshore by 708.8% in the second quarter. Spark Investment Management LLC now owns 1,113,000 shares of the oil and gas company’s stock valued at $2,181,000 after purchasing an additional 975,391 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of W&T Offshore by 60.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,995,872 shares of the oil and gas company’s stock valued at $3,912,000 after purchasing an additional 751,066 shares during the period. Institutional investors own 49.46% of the company’s stock.

Shares of W&T Offshore, Inc. (NYSE:WTI) opened at $3.20 on Wednesday. The stock has a market cap of $453.43, a price-to-earnings ratio of 6.85 and a beta of 2.51. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of -1.65. W&T Offshore, Inc. has a twelve month low of $1.47 and a twelve month high of $3.69.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. The firm had revenue of $110.30 million for the quarter, compared to analysts’ expectations of $119.50 million. W&T Offshore had a net margin of 15.38% and a negative return on equity of 10.86%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.24) earnings per share. equities analysts predict that W&T Offshore, Inc. will post 0.51 EPS for the current fiscal year.

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In other W&T Offshore news, Director Stuart B. Katz bought 50,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were bought at an average cost of $1.85 per share, with a total value of $92,500.00. Following the completion of the acquisition, the director now owns 205,113 shares of the company’s stock, valued at $379,459.05. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tracy W. Krohn bought 918,763 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were acquired at an average cost of $2.08 per share, for a total transaction of $1,911,027.04. Following the completion of the acquisition, the chief executive officer now directly owns 44,532,480 shares of the company’s stock, valued at approximately $92,627,558.40. The disclosure for this purchase can be found here. Insiders have acquired 1,388,841 shares of company stock worth $2,804,309 over the last three months. 32.58% of the stock is owned by corporate insiders.

Several research analysts have recently weighed in on WTI shares. Zacks Investment Research upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research note on Saturday, September 9th. ValuEngine upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. W&T Offshore has a consensus rating of “Hold” and an average target price of $2.50.

W&T Offshore Profile

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.

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

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