Assenagon Asset Management S.A. Lowers Stock Holdings in W&T Offshore, Inc. (NYSE:WTI)

Assenagon Asset Management S.A. decreased its position in shares of W&T Offshore, Inc. (NYSE:WTIGet Rating) by 59.3% during the third quarter, HoldingsChannel reports. The firm owned 481,238 shares of the oil and gas company’s stock after selling 702,501 shares during the period. Assenagon Asset Management S.A.’s holdings in W&T Offshore were worth $2,820,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp raised its position in W&T Offshore by 44.0% during the second quarter. State Street Corp now owns 9,841,304 shares of the oil and gas company’s stock valued at $42,514,000 after purchasing an additional 3,009,238 shares in the last quarter. Vanguard Group Inc. raised its position in W&T Offshore by 7.5% during the first quarter. Vanguard Group Inc. now owns 6,191,609 shares of the oil and gas company’s stock valued at $23,653,000 after purchasing an additional 429,419 shares in the last quarter. LSV Asset Management increased its holdings in shares of W&T Offshore by 4.2% in the first quarter. LSV Asset Management now owns 3,360,551 shares of the oil and gas company’s stock worth $12,837,000 after buying an additional 135,500 shares during the period. Renaissance Technologies LLC increased its holdings in shares of W&T Offshore by 124.6% in the second quarter. Renaissance Technologies LLC now owns 2,734,033 shares of the oil and gas company’s stock worth $11,811,000 after buying an additional 1,516,957 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of W&T Offshore by 3.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,731,995 shares of the oil and gas company’s stock worth $7,482,000 after buying an additional 57,684 shares during the period. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on WTI. Stifel Nicolaus began coverage on W&T Offshore in a report on Tuesday, October 25th. They issued a “buy” rating and a $9.10 price objective on the stock. StockNews.com began coverage on W&T Offshore in a report on Wednesday, October 12th. They issued a “buy” rating on the stock.

W&T Offshore Price Performance

Shares of NYSE:WTI opened at $5.58 on Thursday. W&T Offshore, Inc. has a 1 year low of $3.57 and a 1 year high of $9.16. The company has a market cap of $798.84 million, a PE ratio of 3.42 and a beta of 2.09. The stock’s 50-day moving average is $6.38 and its 200 day moving average is $6.08.

W&T Offshore (NYSE:WTIGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. W&T Offshore had a negative return on equity of 168.03% and a net margin of 26.38%. The company had revenue of $266.49 million for the quarter, compared to the consensus estimate of $230.20 million. Analysts expect that W&T Offshore, Inc. will post 1.92 EPS for the current fiscal year.

W&T Offshore Profile

(Get Rating)

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. As of December 31, 2021, the company had working interests in 43 fields in federal and state waters; and under lease approximately 606,000 gross acres, including approximately 419,000 gross acres on the Gulf of Mexico Shelf, as well as approximately 187,000 gross acres in the Gulf of Mexico deepwater.

Featured Stories

Want to see what other hedge funds are holding WTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for W&T Offshore, Inc. (NYSE:WTIGet Rating).

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

Receive News & Ratings for W&T Offshore Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W&T Offshore and related companies with MarketBeat.com's FREE daily email newsletter.