What Next for W&T Offshore Inc (NYSE:WTI) Stock After Increase in Shorted Shares?

March 16, 2018 - By Graig Alexander

 What Next for W&T Offshore Inc (NYSE:WTI) Stock After Increase in Shorted Shares?

Investors sentiment increased to 1.94 in 2017 Q3. Its up 0.28, from 1.66 in 2017Q2. It is positive, as 13 investors sold W&T Offshore, Inc. shares while 19 reduced holdings. 30 funds opened positions while 32 raised stakes. 63.51 million shares or 3.99% less from 66.16 million shares in 2017Q2 were reported.
Parallax Volatility Advisers Limited Partnership owns 3,023 shares. Gsa Prns Llp reported 0.1% of its portfolio in W&T Offshore, Inc. (NYSE:WTI). Virtu Ltd Limited Liability Company, a New York-based fund reported 220,608 shares. Principal Fincl Grp, a Iowa-based fund reported 2.44M shares. 5.93 million are held by Blackrock. Franklin Resource holds 0.01% of its portfolio in W&T Offshore, Inc. (NYSE:WTI) for 10.00M shares. Amalgamated National Bank & Trust has 0% invested in W&T Offshore, Inc. (NYSE:WTI) for 11,878 shares. Parametric Portfolio Associate holds 493,738 shares. California State Teachers Retirement Sys accumulated 148,338 shares or 0% of the stock. Sg Americas Limited Liability Com has invested 0% of its portfolio in W&T Offshore, Inc. (NYSE:WTI). Rhumbline Advisers owns 0% invested in W&T Offshore, Inc. (NYSE:WTI) for 107,542 shares. Northern Corp, a Illinois-based fund reported 1.02 million shares. Manufacturers Life Company The invested in 0% or 79,554 shares. Zeke Limited Liability Company reported 0% stake. Bridgeway Capital Mgmt has invested 0.04% of its portfolio in W&T Offshore, Inc. (NYSE:WTI).

Since December 18, 2017, it had 0 insider purchases, and 2 selling transactions for $133,631 activity. 18,762 shares valued at $52,721 were sold by Schroeder Stephen L on Monday, December 18.

The stock of W&T Offshore Inc (NYSE:WTI) registered an increase of 2.7% in short interest. WTI’s total short interest was 4.10 million shares in March as published by FINRA. Its up 2.7% from 3.99M shares, reported previously. With 3.00M shares average volume, it will take short sellers 1 days to cover their WTI’s short positions. The short interest to W&T Offshore Inc’s float is 4.55%.

The stock decreased 3.95% or $0.16 during the last trading session, reaching $3.89. About 1.58M shares traded. W&T Offshore, Inc. (NYSE:WTI) has risen 11.39% since March 16, 2017 and is uptrending. It has underperformed by 5.31% the S&P500.

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 has market cap of $541.06 million. It sells crude oil, natural gas liquids, and natural gas. It has a 7.01 P/E ratio. The firm holds working interests in approximately 54 offshore fields in federal and state waters.

W&T Offshore, Inc. (NYSE:WTI) Ratings Coverage

Among 4 analysts covering W&T Offshore (NYSE:WTI), 0 have Buy rating, 1 Sell and 3 Hold. Therefore 0 are positive. W&T Offshore has $6 highest and $1 lowest target. $3.13’s average target is -19.54% below currents $3.89 stock price. W&T Offshore had 13 analyst reports since August 6, 2015 according to SRatingsIntel. The stock of W&T Offshore, Inc. (NYSE:WTI) earned “Neutral” rating by Global Hunter Securities on Thursday, August 6. The firm has “Hold” rating given on Thursday, March 10 by KLR Group. Capital One downgraded W&T Offshore, Inc. (NYSE:WTI) on Tuesday, January 19 to “Underweight” rating. On Monday, October 17 the stock rating was downgraded by Barclays Capital to “Underweight”. Iberia Capital Partners downgraded the shares of WTI in report on Monday, August 17 to “Sector Perform” rating. The company was upgraded on Monday, March 12 by Capital One. The company was downgraded on Wednesday, January 10 by Capital One.

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