O Shaughnessy Asset Management LLC reduced its holdings in shares of W&T Offshore, Inc. (NYSE:WTI) by 7.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 123,736 shares of the oil and gas company’s stock after selling 9,738 shares during the quarter. O Shaughnessy Asset Management LLC owned 0.09% of W&T Offshore worth $1,188,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Raymond James & Associates bought a new stake in shares of W&T Offshore during the 2nd quarter worth $101,000. Teacher Retirement System of Texas bought a new stake in shares of W&T Offshore during the 2nd quarter worth $141,000. Thompson Davis & CO. Inc. bought a new stake in shares of W&T Offshore during the 2nd quarter worth $152,000. IFG Advisory LLC bought a new stake in shares of W&T Offshore during the 3rd quarter worth $152,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of W&T Offshore during the 2nd quarter worth $170,000. Institutional investors and hedge funds own 61.82% of the company’s stock.

W&T Offshore stock opened at $6.27 on Tuesday. The stock has a market capitalization of $883.63 million, a price-to-earnings ratio of 11.20 and a beta of 2.74. W&T Offshore, Inc. has a 12 month low of $2.60 and a 12 month high of $9.88.

W&T Offshore (NYSE:WTI) last posted its earnings results on Wednesday, October 31st. The oil and gas company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. The firm had revenue of $153.50 million during the quarter, compared to the consensus estimate of $146.97 million. W&T Offshore had a negative return on equity of 26.51% and a net margin of 23.54%. The business’s quarterly revenue was up 39.2% on a year-over-year basis. During the same period last year, the company earned $0.04 earnings per share. On average, equities research analysts anticipate that W&T Offshore, Inc. will post 0.95 EPS for the current fiscal year.

Several analysts recently weighed in on WTI shares. Seaport Global Securities restated a “buy” rating on shares of W&T Offshore in a research report on Wednesday, July 25th. Zacks Investment Research upgraded W&T Offshore from a “hold” rating to a “strong-buy” rating and set a $9.25 price objective for the company in a research report on Thursday, September 27th. ValuEngine downgraded W&T Offshore from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. KLR Group restated a “sell” rating and set a $6.25 price objective on shares of W&T Offshore in a research report on Monday, August 20th. Finally, Roth Capital upgraded W&T Offshore from a “neutral” rating to a “buy” rating and increased their target price for the company from $8.50 to $10.75 in a research report on Monday, October 15th. Three analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $8.58.

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W&T Offshore Profile

W&T Offshore, Inc, an independent oil and natural gas producer, acquires, explores for, and develops oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interests in approximately 49 offshore fields in federal and state waters.

See Also: Balanced Fund

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

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