W&T Offshore, Inc. (NYSE:WTI) Position Boosted by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. increased its stake in shares of W&T Offshore, Inc. (NYSE:WTI) by 490.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 350,171 shares of the oil and gas company’s stock after buying an additional 290,827 shares during the period. Goldman Sachs Group Inc.’s holdings in W&T Offshore were worth $970,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp raised its stake in shares of W&T Offshore by 1.0% in the fourth quarter. State Street Corp now owns 624,562 shares of the oil and gas company’s stock valued at $1,729,000 after buying an additional 6,470 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of W&T Offshore during the fourth quarter valued at approximately $215,000. Nationwide Fund Advisors raised its stake in shares of W&T Offshore by 165.5% in the first quarter. Nationwide Fund Advisors now owns 59,735 shares of the oil and gas company’s stock valued at $165,000 after buying an additional 37,238 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of W&T Offshore by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 151,848 shares of the oil and gas company’s stock valued at $420,000 after buying an additional 8,072 shares in the last quarter. Finally, Smith Asset Management Group LP bought a new stake in shares of W&T Offshore during the first quarter valued at approximately $336,000. 46.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of W&T Offshore, Inc. (NYSE WTI) traded up 1.55% during trading on Friday, hitting $1.97. The stock had a trading volume of 1,064,507 shares. The stock has a market capitalization of $271.02 million, a price-to-earnings ratio of 2.11 and a beta of 2.40. W&T Offshore, Inc. has a one year low of $1.31 and a one year high of $3.47. The stock has a 50 day moving average price of $1.97 and a 200-day moving average price of $2.35.
W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.21. The firm had revenue of $123.32 million during the quarter, compared to analyst estimates of $121.30 million. W&T Offshore had a negative return on equity of 6.08% and a net margin of 25.52%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.47) EPS. On average, equities research analysts predict that W&T Offshore, Inc. will post $0.41 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: This piece of content was published by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.dailypolitical.com/2017/08/13/wt-offshore-inc-nysewti-position-boosted-by-goldman-sachs-group-inc.html.
Several analysts recently commented on WTI shares. Zacks Investment Research lowered W&T Offshore from a “buy” rating to a “hold” rating in a research note on Thursday, May 4th. ValuEngine raised W&T Offshore from a “sell” rating to a “hold” rating in a research note on Friday, May 19th. Barclays PLC reissued a “sell” rating and issued a $1.50 price objective on shares of W&T Offshore in a research note on Friday, July 7th. Finally, BidaskClub lowered W&T Offshore from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $2.58.
About W&T Offshore
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.
Want to see what other hedge funds are holding WTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for W&T Offshore, Inc. (NYSE:WTI).
Receive News & Ratings for W&T Offshore Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W&T Offshore Inc. and related companies with MarketBeat.com's FREE daily email newsletter.