Centerbridge Partners adds W&T Offshore (WTI) to its portfolio

W&T Offshore (WTI) : Centerbridge Partners added new position in W&T Offshore during the most recent quarter end. The investment management firm now holds 4,121,051 shares of W&T Offshore which is valued at $6,387,629 , the company said in a statement filed on Nov 14, 2016 with the SEC.W&T Offshore makes up approximately 0.52% of Centerbridge Partners’s portfolio.

Other Hedge Funds, Including , Tudor Investment Corp Et Al boosted its stake in WTI in the latest quarter, The investment management firm added 4,824 additional shares and now holds a total of 25,011 shares of W&T Offshore which is valued at $38,767.Dimensional Fund Advisors Lp reduced its stake in WTI by selling 493,282 shares or 64.6% in the most recent quarter. The Hedge Fund company now holds 270,286 shares of WTI which is valued at $391,915.Acrospire Investment Management boosted its stake in WTI in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 8,900 shares of W&T Offshore which is valued at $12,905. W&T Offshore makes up approx 0.01% of Acrospire Investment Management’s portfolio.

W&T Offshore closed down -0.04 points or -2.61% at $1.49 with 7,81,392 shares getting traded on Monday. Post opening the session at $1.54, the shares hit an intraday low of $1.47 and an intraday high of $1.6 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, W&T Offshore reported $-0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.23 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $-0.47. The company had revenue of $107.40 million for the quarter, compared to analysts expectations of $109.57 million. The company’s revenue was down -14.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.79 EPS.

Many Wall Street Analysts have commented on W&T Offshore. Shares were Downgraded by Barclays on Oct 17, 2016 to ” Underweight” and Lowered the Price Target to $ 1 from a previous price target of $2 .

W&T Offshore Inc. is an independent oil and natural gas producer. The Company is engaged in the exploration development and acquisition of oil and natural gas properties primarily in the Gulf of Mexico and the Permian Basin in West Texas. Its onshore activities are primarily in the Permian Basin in West Texas. The Company owns a platform in the Gulf of Mexico located in a National Marine Sanctuary. The offshore fields are found in water depths ranging from less than 10 feet up to 7200 feet. Its properties include Spraberry Field (Yellow Rose) Ship Shoal 349 Field (Mahogany) Fairway Field The Viosca Knoll 783 field Mississippi Canyon 243 Field (Matterhorn) Main Pass 108 Field Mississippi Canyon 782 Field (Dantzler) Viosca Knoll 823 Field (Virgo) East Cameron 321 and Main Pass 283.

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