Creative Planning Increases Stake in W&T Offshore, Inc. (NYSE:WTI)

Creative Planning boosted its holdings in shares of W&T Offshore, Inc. (NYSE:WTI) by 14.4% in the third quarter, Holdings Channel.com reports. The fund owned 286,747 shares of the oil and gas company’s stock after acquiring an additional 36,145 shares during the quarter. Creative Planning’s holdings in W&T Offshore were worth $617,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. CCG Wealth Management LLC acquired a new stake in shares of W&T Offshore in the 2nd quarter worth $26,000. Norden Group LLC purchased a new position in W&T Offshore in the first quarter valued at $29,000. Caprock Group LLC acquired a new position in W&T Offshore in the 2nd quarter worth about $34,000. Paloma Partners Management Co purchased a new position in shares of W&T Offshore during the 1st quarter valued at approximately $36,000. Finally, Sei Investments Co. acquired a new stake in shares of W&T Offshore in the second quarter valued at about $37,000. 42.88% of the stock is owned by hedge funds and other institutional investors.

W&T Offshore Stock Performance

Shares of WTI stock opened at $2.14 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 75.32. The stock has a 50 day simple moving average of $2.17 and a 200-day simple moving average of $2.23. W&T Offshore, Inc. has a 12-month low of $1.92 and a 12-month high of $4.25. The company has a market cap of $314.27 million, a price-to-earnings ratio of -12.59 and a beta of 1.40.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. The business had revenue of $142.70 million for the quarter, compared to analysts’ expectations of $148.05 million. During the same period in the prior year, the company earned ($0.08) EPS. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, equities analysts forecast that W&T Offshore, Inc. will post -0.46 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut W&T Offshore from a “hold” rating to a “sell” rating in a report on Thursday, September 19th.

W&T Offshore Profile

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 and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.