State Street Corp Raises Position in W&T Offshore, Inc. (NYSE:WTI)

State Street Corp boosted its stake in W&T Offshore, Inc. (NYSE:WTI) by 6.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,868,068 shares of the oil and gas company’s stock after buying an additional 107,610 shares during the quarter. State Street Corp’s holdings in W&T Offshore were worth $9,060,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of WTI. First Trust Advisors LP lifted its stake in W&T Offshore by 54.4% in the 1st quarter. First Trust Advisors LP now owns 504,062 shares of the oil and gas company’s stock valued at $3,478,000 after buying an additional 177,621 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in W&T Offshore by 47.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 858,516 shares of the oil and gas company’s stock valued at $3,082,000 after buying an additional 276,794 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in W&T Offshore by 4.4% in the 1st quarter. Ameriprise Financial Inc. now owns 1,716,126 shares of the oil and gas company’s stock valued at $6,160,000 after buying an additional 71,906 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in W&T Offshore by 15.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 68,437 shares of the oil and gas company’s stock valued at $246,000 after buying an additional 9,008 shares in the last quarter. Finally, Morgan Stanley lifted its stake in W&T Offshore by 539.2% in the 1st quarter. Morgan Stanley now owns 791,827 shares of the oil and gas company’s stock valued at $2,843,000 after buying an additional 667,951 shares in the last quarter. 41.73% of the stock is currently owned by hedge funds and other institutional investors.

WTI opened at $3.71 on Thursday. The company’s 50 day simple moving average is $3.99 and its two-hundred day simple moving average is $3.90. W&T Offshore, Inc. has a 1-year low of $1.94 and a 1-year high of $5.14. The firm has a market capitalization of $528.18 million, a price-to-earnings ratio of -5.30 and a beta of 2.98.

Separately, Stifel Nicolaus raised shares of W&T Offshore from a “hold” rating to a “buy” rating and raised their target price for the stock from $5.10 to $6.90 in a research note on Wednesday, October 20th.

About W&T Offshore

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.

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

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