HighTower Advisors LLC Invests $3.49 Million in W&T Offshore, Inc. (NYSE:WTI)

HighTower Advisors LLC purchased a new stake in shares of W&T Offshore, Inc. (NYSE:WTIGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 904,667 shares of the oil and gas company’s stock, valued at approximately $3,485,000. HighTower Advisors LLC owned about 0.63% of W&T Offshore as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. State of Tennessee Treasury Department raised its stake in shares of W&T Offshore by 8.3% during the first quarter. State of Tennessee Treasury Department now owns 43,201 shares of the oil and gas company’s stock valued at $165,000 after acquiring an additional 3,310 shares during the last quarter. Octavia Wealth Advisors LLC increased its stake in shares of W&T Offshore by 38.2% during the first quarter. Octavia Wealth Advisors LLC now owns 17,460 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 4,830 shares during the period. ProShare Advisors LLC raised its holdings in shares of W&T Offshore by 70.5% during the fourth quarter. ProShare Advisors LLC now owns 20,504 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 8,480 shares in the last quarter. Sandler Capital Management lifted its stake in W&T Offshore by 20.0% in the fourth quarter. Sandler Capital Management now owns 60,000 shares of the oil and gas company’s stock worth $194,000 after acquiring an additional 10,000 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in W&T Offshore by 2.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,050 shares of the oil and gas company’s stock worth $1,405,000 after acquiring an additional 10,354 shares during the period. Hedge funds and other institutional investors own 51.06% of the company’s stock.

W&T Offshore Trading Up 8.3 %

Shares of W&T Offshore stock opened at $6.54 on Friday. W&T Offshore, Inc. has a 12 month low of $2.97 and a 12 month high of $9.01. The firm has a market capitalization of $936.23 million, a P/E ratio of 7.27 and a beta of 2.28. The business has a fifty day simple moving average of $5.06 and a two-hundred day simple moving average of $5.23.

W&T Offshore (NYSE:WTIGet Rating) last issued its quarterly earnings results on Monday, August 8th. The oil and gas company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.95. W&T Offshore had a net margin of 17.26% and a negative return on equity of 102.77%. The company had revenue of $273.80 million during the quarter, compared to analyst estimates of $228.22 million. During the same period last year, the business earned $0.02 EPS. W&T Offshore’s quarterly revenue was up 106.2% compared to the same quarter last year. Analysts predict that W&T Offshore, Inc. will post 1.98 earnings per share for the current year.

Analysts Set New Price Targets

WTI has been the subject of several research analyst reports. StockNews.com raised shares of W&T Offshore from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Stifel Nicolaus lifted their price objective on W&T Offshore to $8.40 and gave the company a “buy” rating in a research report on Wednesday, July 27th.

W&T Offshore 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. 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 Gulf of Mexico deepwater.

Featured Articles

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

Receive News & Ratings for W&T Offshore Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W&T Offshore and related companies with MarketBeat.com's FREE daily email newsletter.