Columbia Pacific Advisors LLC reduced its stake in W&T Offshore, Inc. (NYSE:WTI) by 3.0% in the 1st quarter, HoldingsChannel reports. The firm owned 524,172 shares of the oil and gas company’s stock after selling 16,000 shares during the quarter. W&T Offshore makes up 8.4% of Columbia Pacific Advisors LLC’s portfolio, making the stock its 5th biggest position. Columbia Pacific Advisors LLC’s holdings in W&T Offshore were worth $3,617,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of WTI. MERIAN GLOBAL INVESTORS UK Ltd boosted its stake in W&T Offshore by 4.7% in the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,626,924 shares of the oil and gas company’s stock valued at $18,125,000 after acquiring an additional 118,479 shares during the last quarter. Cetera Investment Advisers purchased a new position in W&T Offshore in the first quarter valued at about $114,000. California Public Employees Retirement System boosted its stake in W&T Offshore by 2.0% in the first quarter. California Public Employees Retirement System now owns 892,161 shares of the oil and gas company’s stock valued at $6,156,000 after acquiring an additional 17,911 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in W&T Offshore by 94.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 270,376 shares of the oil and gas company’s stock valued at $1,866,000 after acquiring an additional 131,392 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new position in W&T Offshore in the first quarter valued at about $206,000. 64.36% of the stock is owned by hedge funds and other institutional investors.

In other W&T Offshore news, insider Shahid Ghauri purchased 7,000 shares of the stock in a transaction dated Friday, March 15th. The shares were bought at an average price of $6.01 per share, with a total value of $42,070.00. Following the completion of the transaction, the insider now directly owns 8,000 shares in the company, valued at approximately $48,080. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stuart B. Katz purchased 10,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average cost of $5.10 per share, for a total transaction of $51,000.00. Following the transaction, the director now owns 237,089 shares of the company’s stock, valued at $1,209,153.90. The disclosure for this purchase can be found here. In the last three months, insiders bought 27,000 shares of company stock worth $158,170. Insiders own 33.60% of the company’s stock.

NYSE WTI opened at $5.04 on Friday. W&T Offshore, Inc. has a 12-month low of $3.62 and a 12-month high of $9.88. The company has a market capitalization of $677.90 million, a PE ratio of 4.99 and a beta of 2.85.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.06). W&T Offshore had a net margin of 30.83% and a negative return on equity of 29.98%. The business had revenue of $116.08 million during the quarter, compared to the consensus estimate of $120.51 million. During the same period last year, the firm earned $0.19 EPS. The business’s revenue for the quarter was down 13.5% on a year-over-year basis. On average, sell-side analysts expect that W&T Offshore, Inc. will post 0.46 EPS for the current year.

A number of research analysts have weighed in on WTI shares. Zacks Investment Research upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Monday, March 25th. Stifel Nicolaus started coverage on shares of W&T Offshore in a research note on Thursday, March 7th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, ValuEngine upgraded shares of W&T Offshore from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. Three analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $8.75.

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W&T Offshore Company 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.

Further Reading: Stock Split

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

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