2,120,526 Shares in W&T Offshore, Inc. (NYSE:WTI) Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC purchased a new position in shares of W&T Offshore, Inc. (NYSE:WTIGet Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,120,526 shares of the oil and gas company’s stock, valued at approximately $6,849,000. Allspring Global Investments Holdings LLC owned 1.49% of W&T Offshore at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WTI. BlackRock Inc. boosted its stake in shares of W&T Offshore by 18.5% during the 3rd quarter. BlackRock Inc. now owns 10,290,646 shares of the oil and gas company’s stock worth $38,280,000 after purchasing an additional 1,604,736 shares during the period. Millennium Management LLC boosted its stake in shares of W&T Offshore by 105.7% during the 3rd quarter. Millennium Management LLC now owns 1,651,044 shares of the oil and gas company’s stock worth $6,142,000 after purchasing an additional 848,416 shares during the period. LSV Asset Management boosted its position in W&T Offshore by 21.0% in the 3rd quarter. LSV Asset Management now owns 3,389,351 shares of the oil and gas company’s stock valued at $12,608,000 after buying an additional 587,155 shares during the period. Renaissance Technologies LLC boosted its position in W&T Offshore by 86.8% in the 3rd quarter. Renaissance Technologies LLC now owns 829,000 shares of the oil and gas company’s stock valued at $3,084,000 after buying an additional 385,200 shares during the period. Finally, GSA Capital Partners LLP boosted its position in W&T Offshore by 169.3% in the 3rd quarter. GSA Capital Partners LLP now owns 460,545 shares of the oil and gas company’s stock valued at $1,713,000 after buying an additional 289,525 shares during the period. 38.31% of the stock is owned by hedge funds and other institutional investors.

Shares of WTI opened at $4.28 on Monday. The company has a 50 day moving average price of $4.54 and a 200-day moving average price of $4.11. W&T Offshore, Inc. has a fifty-two week low of $2.64 and a fifty-two week high of $6.68. The stock has a market capitalization of $612.09 million, a PE ratio of -14.27 and a beta of 2.58.

W&T Offshore (NYSE:WTIGet Rating) last announced its quarterly earnings results on Tuesday, March 8th. The oil and gas company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. W&T Offshore had a negative net margin of 7.43% and a negative return on equity of 13.06%. The firm had revenue of $165.59 million during the quarter, compared to analysts’ expectations of $144.98 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The company’s revenue was up 74.8% compared to the same quarter last year. On average, equities analysts expect that W&T Offshore, Inc. will post 1.32 earnings per share for the current fiscal year.

WTI has been the subject of several research reports. Zacks Investment Research raised shares of W&T Offshore from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research report on Monday, January 24th. StockNews.com raised shares of W&T Offshore from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, Roth Capital reissued a “buy” rating on shares of W&T Offshore in a research report on Tuesday, March 1st.

In related news, insider Shahid Ghauri sold 116,411 shares of the business’s stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $4.50, for a total transaction of $523,849.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 34.40% of the company’s stock.

W&T Offshore Company Profile (Get Rating)

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interest in approximately 41 offshore fields in federal and state waters.

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

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