Rhumbline Advisers raised its stake in W&T Offshore, Inc. (NYSE:WTI) by 41.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 135,937 shares of the oil and gas company’s stock after purchasing an additional 39,512 shares during the quarter. Rhumbline Advisers’ holdings in W&T Offshore were worth $560,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WTI. Nisa Investment Advisors LLC bought a new position in shares of W&T Offshore in the 4th quarter worth $70,000. Paloma Partners Management Co bought a new position in shares of W&T Offshore during the 3rd quarter valued at $102,000. LPL Financial LLC bought a new position in shares of W&T Offshore during the 3rd quarter valued at $140,000. Rafferty Asset Management LLC bought a new position in shares of W&T Offshore during the 3rd quarter valued at $165,000. Finally, Arcus Capital Partners LLC bought a new position in shares of W&T Offshore during the 3rd quarter valued at $193,000. 63.70% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently commented on WTI shares. ValuEngine raised shares of W&T Offshore from a “strong sell” rating to a “sell” rating in a report on Monday, January 7th. Stifel Nicolaus started coverage on shares of W&T Offshore in a report on Thursday, March 7th. They set a “buy” rating and a $10.00 target price on the stock. Finally, Zacks Investment Research lowered shares of W&T Offshore from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. Three analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $8.25.

Shares of WTI opened at $6.51 on Tuesday. The firm has a market cap of $934.55 million, a price-to-earnings ratio of 6.44 and a beta of 2.88. W&T Offshore, Inc. has a twelve month low of $3.62 and a twelve month high of $9.88.

In other news, insider Shahid Ghauri purchased 7,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was acquired at an average price of $6.01 per share, with a total value of $42,070.00. Following the transaction, the insider now directly owns 8,000 shares of the company’s stock, valued at approximately $48,080. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David M. Bump sold 10,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $5.40, for a total transaction of $54,000.00. Following the sale, the insider now directly owns 54,719 shares of the company’s stock, valued at approximately $295,482.60. The disclosure for this sale can be found here. Corporate insiders own 33.76% of the company’s stock.

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About W&T Offshore

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.

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

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