Arrowstreet Capital Limited Partnership Acquires New Shares in W&T Offshore, Inc. $WTI

Key Points

• Arrowstreet Capital acquired 646,552 shares of W&T Offshore during the first quarter, valued at approximately $2.2 million and representing about 0.43% of the company. Institutional investors collectively own 42.88% of W&T Offshore.
• Analyst sentiment is mixed, with ratings ranging from sell to outperform; the stock has a consensus rating of Hold and an average price target of $4.25.
• W&T Offshore reported quarterly EPS of $0.02, below the $0.04 consensus estimate, while revenue of $162.62 million exceeded expectations. Shares opened at $3.29, within a 52-week range of $1.50 to $5.08.

Arrowstreet Capital Limited Partnership acquired a new position in shares of W&T Offshore, Inc. (NYSE:WTI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 646,552 shares of the oil and gas company's stock, valued at approximately $2,205,000. Arrowstreet Capital Limited Partnership owned about 0.43% of W&T Offshore as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sei Investments Co. grew its holdings in shares of W&T Offshore by 1,596.5% during the first quarter. Sei Investments Co. now owns 297,870 shares of the oil and gas company's stock worth $1,016,000 after purchasing an additional 280,312 shares during the last quarter. Walleye Capital LLC acquired a new stake in W&T Offshore during the 1st quarter worth approximately $62,000. State of Wyoming bought a new stake in W&T Offshore during the 1st quarter worth approximately $109,000. Cetera Investment Advisers acquired a new position in W&T Offshore in the 1st quarter valued at approximately $92,000. Finally, Dimensional Fund Advisors LP increased its position in W&T Offshore by 47.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 319,286 shares of the oil and gas company's stock valued at $1,090,000 after acquiring an additional 102,022 shares during the period. Institutional investors and hedge funds own 42.88% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WTI. Wall Street Zen cut shares of W&T Offshore from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of W&T Offshore in a research note on Friday, July 17th. William Blair started coverage on W&T Offshore in a report on Friday, April 17th. They issued an "outperform" rating on the stock. Finally, Roth Capital set a $4.25 price target on shares of W&T Offshore in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $4.25.

W&T Offshore Stock Performance

Shares of WTI stock opened at $3.29 on Thursday. The company has a market cap of $488.74 million, a P/E ratio of -3.46 and a beta of 0.24. The stock has a 50 day simple moving average of $3.51 and a two-hundred day simple moving average of $3.24. W&T Offshore, Inc. has a fifty-two week low of $1.50 and a fifty-two week high of $5.08.

W&T Offshore (NYSE:WTI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $162.62 million during the quarter, compared to analysts' expectations of $157.46 million. On average, research analysts predict that W&T Offshore, Inc. will post -0.11 earnings per share for the current year.

W&T Offshore Profile

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.

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