Fuller & Thaler Asset Management Inc. bought a new position in W&T Offshore, Inc. (NYSE:WTI) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,507,800 shares of the oil and gas company’s stock, valued at approximately $4,991,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Common Retirement Fund increased its stake in W&T Offshore by 62.0% in the 2nd quarter. New York State Common Retirement Fund now owns 52,000 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 19,899 shares during the last quarter. SG Americas Securities LLC bought a new position in W&T Offshore in the 3rd quarter worth about $120,000. The Manufacturers Life Insurance Company increased its stake in W&T Offshore by 782.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 82,579 shares of the oil and gas company’s stock worth $162,000 after acquiring an additional 73,223 shares during the last quarter. Alliancebernstein L.P. increased its stake in W&T Offshore by 58.5% in the 2nd quarter. Alliancebernstein L.P. now owns 91,308 shares of the oil and gas company’s stock worth $179,000 after acquiring an additional 33,700 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in W&T Offshore in the 3rd quarter worth about $225,000. Institutional investors and hedge funds own 53.97% of the company’s stock.
A number of equities analysts have weighed in on the company. 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 Financial cut W&T Offshore from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $2.50.
W&T Offshore, Inc. (NYSE WTI) opened at $4.15 on Tuesday. W&T Offshore, Inc. has a fifty-two week low of $1.81 and a fifty-two week high of $5.34. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of -1.65. The stock has a market capitalization of $571.96, a PE ratio of 7.83 and a beta of 2.84.
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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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