W&T Offshore, Inc. (WTI) Shares Sold by Royal Bank of Canada
Royal Bank of Canada cut its stake in shares of W&T Offshore, Inc. (NYSE:WTI) by 1.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,753 shares of the oil and gas company’s stock after selling 1,142 shares during the period. Royal Bank of Canada owned about 0.06% of W&T Offshore worth $153,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in WTI. JPMorgan Chase & Co. grew its position in W&T Offshore by 15,089.6% during the second quarter. JPMorgan Chase & Co. now owns 3,152,900 shares of the oil and gas company’s stock valued at $6,180,000 after purchasing an additional 3,132,143 shares in the last quarter. Principal Financial Group Inc. purchased a new position in W&T Offshore during the second quarter valued at approximately $4,796,000. Chicago Equity Partners LLC purchased a new position in W&T Offshore during the second quarter valued at approximately $2,637,000. Spark Investment Management LLC grew its position in W&T Offshore by 708.8% during the second quarter. Spark Investment Management LLC now owns 1,113,000 shares of the oil and gas company’s stock valued at $2,181,000 after purchasing an additional 975,391 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in W&T Offshore by 60.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,995,872 shares of the oil and gas company’s stock valued at $3,912,000 after purchasing an additional 751,066 shares in the last quarter. 39.09% of the stock is currently owned by hedge funds and other institutional investors.
W&T Offshore, Inc. (NYSE WTI) traded down $0.02 during mid-day trading on Friday, reaching $3.07. 635,456 shares of the company’s stock traded hands, compared to its average volume of 2,000,000. The company has a debt-to-equity ratio of -1.65, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $423.11, a P/E ratio of 6.40 and a beta of 2.50. W&T Offshore, Inc. has a 12 month low of $1.53 and a 12 month high of $3.69.
W&T Offshore (NYSE:WTI) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. The company had revenue of $110.30 million during the quarter, compared to the consensus estimate of $119.50 million. W&T Offshore had a net margin of 15.38% and a negative return on equity of 10.86%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.24) earnings per share. sell-side analysts expect that W&T Offshore, Inc. will post 0.51 earnings per share for the current fiscal year.
WTI has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of W&T Offshore from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a research report on Saturday, September 9th. ValuEngine raised shares of W&T Offshore from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $2.50.
In other W&T Offshore news, Director Virginia Boulet bought 16,500 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was bought at an average cost of $2.46 per share, with a total value of $40,590.00. Following the completion of the transaction, the director now directly owns 178,047 shares of the company’s stock, valued at approximately $437,995.62. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Tracy W. Krohn bought 271,444 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was acquired at an average cost of $1.90 per share, with a total value of $515,743.60. The disclosure for this purchase can be found here. Insiders acquired 1,206,707 shares of company stock valued at $2,467,361 over the last three months. Insiders own 32.58% of the company’s stock.
W&T Offshore Company 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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