Two Sigma Advisers LP increased its position in W&T Offshore, Inc. (NYSE:WTI) by 111.5% in the fourth quarter, Holdings Channel reports. The fund owned 128,200 shares of the oil and gas company’s stock after buying an additional 67,585 shares during the period. Two Sigma Advisers LP’s holdings in W&T Offshore were worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in W&T Offshore by 24.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 210,368 shares of the oil and gas company’s stock worth $696,000 after acquiring an additional 41,374 shares during the last quarter. Jefferies Group LLC purchased a new position in shares of W&T Offshore during the 4th quarter valued at about $191,000. Quantitative Investment Management LLC purchased a new position in shares of W&T Offshore during the 4th quarter valued at about $719,000. Thrivent Financial For Lutherans purchased a new position in shares of W&T Offshore during the 4th quarter valued at about $472,000. Finally, Geode Capital Management LLC raised its stake in shares of W&T Offshore by 58.3% during the 4th quarter. Geode Capital Management LLC now owns 2,536,243 shares of the oil and gas company’s stock valued at $8,394,000 after buying an additional 934,315 shares during the last quarter. Institutional investors own 48.69% of the company’s stock.

Shares of W&T Offshore stock opened at $5.58 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of -1.69. W&T Offshore, Inc. has a twelve month low of $1.81 and a twelve month high of $6.27. The stock has a market capitalization of $820.64, a P/E ratio of 9.96 and a beta of 2.78.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings results on Wednesday, February 28th. The oil and gas company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. W&T Offshore had a negative return on equity of 13.99% and a net margin of 16.36%. The firm had revenue of $129.10 million during the quarter. analysts forecast that W&T Offshore, Inc. will post 0.6 earnings per share for the current fiscal year.

WTI has been the subject of a number of recent research reports. Zacks Investment Research upgraded W&T Offshore from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 10th. Capital One lowered W&T Offshore from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 10th. Finally, ValuEngine lowered W&T Offshore from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. W&T Offshore presently has a consensus rating of “Sell” and an average price target of $2.88.

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W&T Offshore Profile

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.

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

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