MUFG Securities EMEA plc bought a new position in shares of W&T Offshore, Inc. (NYSE:WTI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 81,580 shares of the oil and gas company’s stock, valued at approximately $405,000. MUFG Securities EMEA plc owned approximately 0.06% of W&T Offshore as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of W&T Offshore by 7.5% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,313,500 shares of the oil and gas company’s stock valued at $11,475,000 after purchasing an additional 162,200 shares during the last quarter. Northern Trust Corp grew its position in shares of W&T Offshore by 5.2% in the 2nd quarter. Northern Trust Corp now owns 1,251,370 shares of the oil and gas company’s stock valued at $6,207,000 after buying an additional 61,665 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of W&T Offshore by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,244,386 shares of the oil and gas company’s stock valued at $6,172,000 after buying an additional 34,896 shares during the last quarter. Trexquant Investment LP grew its position in shares of W&T Offshore by 95.2% in the 2nd quarter. Trexquant Investment LP now owns 90,079 shares of the oil and gas company’s stock valued at $447,000 after buying an additional 43,933 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of W&T Offshore by 9.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 857,952 shares of the oil and gas company’s stock valued at $4,255,000 after buying an additional 70,749 shares during the last quarter. 58.89% of the stock is owned by institutional investors and hedge funds.

Shares of WTI stock traded up $0.19 during mid-day trading on Friday, hitting $4.79. The stock had a trading volume of 52,722 shares, compared to its average volume of 2,237,942. 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 market cap of $713.30 million, a PE ratio of 4.80 and a beta of 2.96. The company’s 50-day simple moving average is $4.41 and its 200-day simple moving average is $5.15.

W&T Offshore (NYSE:WTI) last released its earnings results on Wednesday, July 31st. The oil and gas company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $134.70 million during the quarter, compared to analysts’ expectations of $126.50 million. During the same quarter last year, the business earned $0.29 EPS. The business’s revenue was down 10.0% on a year-over-year basis. Research analysts expect that W&T Offshore, Inc. will post 0.56 earnings per share for the current fiscal year.

A number of analysts recently weighed in on the stock. Seaport Global Securities reiterated a “buy” rating on shares of W&T Offshore in a research note on Friday, June 21st. Stifel Nicolaus set a $10.00 target price on shares of W&T Offshore and gave the stock a “buy” rating in a research note on Monday, August 12th. ValuEngine upgraded shares of W&T Offshore from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Roth Capital set a $11.00 target price on shares of W&T Offshore and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Capital One Financial upgraded shares of W&T Offshore from an “underweight” rating to an “equal weight” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $9.67.

In related news, CEO Tracy W. Krohn purchased 15,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was acquired at an average price of $4.65 per share, for a total transaction of $69,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider William J. Williford purchased 10,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was bought at an average price of $4.12 per share, with a total value of $41,200.00. Following the acquisition, the insider now directly owns 61,245 shares in the company, valued at $252,329.40. The disclosure for this purchase can be found here. Insiders bought a total of 276,913 shares of company stock valued at $1,200,049 in the last quarter. Insiders own 33.60% of the company’s stock.

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.

Further Reading: Are sell-side analysts objective?

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

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