W&T Offshore, Inc. (NYSE:WTI) Shares Purchased by Royal Bank of Canada

Royal Bank of Canada raised its position in shares of W&T Offshore, Inc. (NYSE:WTI) by 587.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 528,756 shares of the oil and gas company’s stock after purchasing an additional 451,886 shares during the period. Royal Bank of Canada owned 0.38% of W&T Offshore worth $2,623,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC bought a new stake in shares of W&T Offshore in the 2nd quarter worth approximately $3,297,000. JPMorgan Chase & Co. boosted its holdings in shares of 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 worth $25,398,000 after buying an additional 446,978 shares during the period. BlackRock Inc. boosted its holdings in shares of W&T Offshore by 5.7% during the 2nd quarter. BlackRock Inc. now owns 7,308,800 shares of the oil and gas company’s stock worth $36,253,000 after buying an additional 394,943 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in shares of W&T Offshore by 30.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,425,413 shares of the oil and gas company’s stock worth $7,070,000 after buying an additional 329,044 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of W&T Offshore by 37.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,198,339 shares of the oil and gas company’s stock worth $5,944,000 after buying an additional 327,804 shares during the period. 58.88% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently issued reports on WTI. Roth Capital set a $11.00 price objective on shares of W&T Offshore and gave the stock a “buy” rating in a report on Friday, August 16th. Seaport Global Securities reissued a “buy” rating on shares of W&T Offshore in a report on Friday, June 21st. Stifel Nicolaus set a $10.00 price objective on shares of W&T Offshore and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, ValuEngine upgraded shares of W&T Offshore from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $9.67.

Shares of WTI stock opened at $4.15 on Wednesday. W&T Offshore, Inc. has a 52-week low of $3.62 and a 52-week high of $8.12. The stock has a market cap of $576.83 million, a price-to-earnings ratio of 4.11 and a beta of 2.89. The firm has a fifty day moving average of $4.46 and a 200-day moving average of $4.93.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.16. W&T Offshore had a net margin of 31.72% and a negative return on equity of 31.98%. The company had revenue of $134.70 million during the quarter, compared to analysts’ expectations of $126.50 million. During the same quarter in the prior year, the company posted $0.29 EPS. The business’s revenue was down 10.0% on a year-over-year basis. On average, research analysts forecast that W&T Offshore, Inc. will post 0.41 EPS for the current year.

In other W&T Offshore news, CEO Tracy W. Krohn acquired 22,563 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $4.17 per share, for a total transaction of $94,087.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider William J. Williford acquired 10,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was acquired at an average price of $4.12 per share, with a total value of $41,200.00. Following the purchase, the insider now owns 61,245 shares in the company, valued at approximately $252,329.40. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 161,913 shares of company stock valued at $670,299. Corporate insiders own 33.60% of the company’s stock.

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: Portfolio Manager

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

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