W&T Offshore, Inc. (NYSE: WTI) shares acquired by the New York State Common Retirement Fund


The New York State Common Retirement Fund increased its stake in the shares of W&T Offshore, Inc. (NYSE: WTIGet a rating) by 176.0% in Q1, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor held 215,450 shares of the oil and gas company after purchasing an additional 137,401 shares during the quarter. The New York State Common Retirement Fund held 0.15% of W&T Offshore worth $823,000 at the end of last quarter.

Several other institutional investors and hedge funds have also been buying and selling stocks recently. Versor Investments LP increased its stake in W&T Offshore by 91.3% during the 1st quarter. Versor Investments LP now owns 24,300 shares of the oil and gas company worth $93,000 after buying an additional 11,600 shares last quarter. Summit Global Investments acquired a new position in W&T Offshore during Q1 worth $601,000. Assenagon Asset Management SA acquired a new position in W&T Offshore during the 1st quarter with a value of $119,000. Belvedere Trading LLC acquired a new position in W&T Offshore during Q1 worth $77,000. Finally, Octavia Wealth Advisors LLC increased its stake in W&T Offshore by 38.2% in the 1st quarter. Octavia Wealth Advisors LLC now owns 17,460 shares of the oil and gas company worth $67,000 after buying an additional 4,830 shares in the last quarter. 36.85% of the shares are held by institutional investors and hedge funds.

A Wall Street analyst gives his opinion

A number of analysts have released reports on WTI shares. StockNews.com upgraded W&T Offshore from a “hold” rating to a “buy” rating in a Tuesday, August 9 report. Stifel Nicolaus raised his price target on W&T Offshore to $8.40 and gave the stock a “buy” rating in a Wednesday, July 27 report.

W&T offshore stock up 10.1%

Shares of NYSE WTI opened at $6.31 on Friday. The stock has a market capitalization of $903.30 million, a PE ratio of 7.01 and a beta of 2.28. W&T Offshore, Inc. has a 52-week low of $2.64 and a 52-week high of $9.01. The company has a 50-day moving average price of $5.00 and a 200-day moving average price of $5.06.

W&T at sea (NYSE: WTIGet a rating) last released its quarterly earnings data on Monday, August 8. The oil and gas company reported EPS of $1.32 for the quarter, beating the consensus estimate of $0.37 from $0.95. The company posted revenue of $273.80 million in the quarter, versus a consensus estimate of $228.22 million. W&T Offshore had a negative return on equity of 102.77% and a net margin of 17.26%. The company’s revenue increased by 106.2% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $0.02. Sell-side analysts expect W&T Offshore, Inc. to post earnings per share of 1.98 for the current year.

W&T offshore profile

(Get a rating)

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration and development of oil and gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids and natural gas. As of December 31, 2021, the company had working interests in 43 fields in federal and state waters; and under lease approximately 606,000 gross acres, including approximately 419,000 gross acres on the Gulf of Mexico shelf, as well as approximately 187,000 gross acres in the deep waters of the Gulf of Mexico.

Further reading

Want to see which other hedge funds hold WTI? Visit HoldingsChannel.com for the latest 13F filings and insider trading for W&T Offshore, Inc. (NYSE: WTIGet a rating).

Institutional ownership by quarter for W&T Offshore (NYSE: WTI)



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