Jane Street Group LLC lessened its stake in shares of W&T Offshore, Inc. (NYSE:WTI) by 71.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,142 shares of the oil and gas company’s stock after selling 111,921 shares during the period. Jane Street Group LLC’s holdings in W&T Offshore were worth $224,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital Impact Advisors LLC increased its position in W&T Offshore by 43.9% during the 2nd quarter. Capital Impact Advisors LLC now owns 383,612 shares of the oil and gas company’s stock valued at $1,826,000 after buying an additional 116,991 shares in the last quarter. MetLife Investment Advisors LLC increased its position in W&T Offshore by 23.1% during the 1st quarter. MetLife Investment Advisors LLC now owns 44,133 shares of the oil and gas company’s stock valued at $305,000 after buying an additional 8,279 shares in the last quarter. Panagora Asset Management Inc. increased its position in W&T Offshore by 9.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 857,952 shares of the oil and gas company’s stock valued at $4,255,000 after buying an additional 70,749 shares in the last quarter. JPMorgan Chase & Co. increased its position in W&T Offshore by 9.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,335,635 shares of the oil and gas company’s stock valued at $25,398,000 after buying an additional 446,978 shares in the last quarter. Finally, Hancock Whitney Corp increased its position in W&T Offshore by 11.1% during the 1st quarter. Hancock Whitney Corp now owns 128,218 shares of the oil and gas company’s stock valued at $884,000 after buying an additional 12,858 shares in the last quarter. 58.88% of the stock is owned by institutional investors.

WTI has been the subject of a number of analyst reports. Stifel Nicolaus set a $10.00 price objective on W&T Offshore and gave the company a “buy” rating in a research report on Monday, August 12th. ValuEngine raised W&T Offshore from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Roth Capital set a $11.00 target price on W&T Offshore and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Seaport Global Securities reiterated a “buy” rating on shares of W&T Offshore in a research note on Friday, June 21st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $9.67.

In other W&T Offshore news, insider William J. Williford bought 10,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were acquired at an average cost of $4.12 per share, for a total transaction of $41,200.00. Following the purchase, the insider now owns 61,245 shares in the company, valued at approximately $252,329.40. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Tracy W. Krohn bought 21,500 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were acquired at an average price of $4.47 per share, for a total transaction of $96,105.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 161,913 shares of company stock worth $670,299. Company insiders own 33.60% of the company’s stock.

WTI traded down $0.06 during trading on Monday, hitting $4.16. 474,595 shares of the company’s stock traded hands, compared to its average volume of 3,084,115. The company’s 50 day simple moving average is $4.46 and its two-hundred day simple moving average is $4.98. W&T Offshore, Inc. has a 12-month low of $3.62 and a 12-month high of $8.12. The stock has a market capitalization of $572.61 million, a price-to-earnings ratio of 4.12 and a beta of 2.89.

W&T Offshore (NYSE:WTI) last issued its earnings results on Wednesday, July 31st. The oil and gas company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.09 by $0.16. W&T Offshore had a negative return on equity of 31.98% and a net margin of 31.72%. The business had revenue of $134.70 million for the quarter, compared to the consensus estimate of $126.50 million. During the same period last year, the business posted $0.29 EPS. The company’s revenue was down 10.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that W&T Offshore, Inc. will post 0.41 earnings per share for the current fiscal year.

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.

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

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