BlackRock Discloses 6.5% Stake in W&T Offshore
Ticker: WTI · Form: SC 13G · Filed: Jan 29, 2024 · CIK: 1288403
| Field | Detail |
|---|---|
| Company | W&T Offshore Inc (WTI) |
| Form Type | SC 13G |
| Filed Date | Jan 29, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-investment, energy-sector
TL;DR
**BlackRock owns 6.5% of W&T Offshore, a bullish sign for the stock.**
AI Summary
BlackRock Inc., a massive investment firm, reported on January 29, 2024, that it holds 6,560,000 shares of W&T Offshore, Inc. (WTI) common stock as of December 31, 2023. This represents a 6.5% ownership stake in the crude petroleum and natural gas company. This matters to investors because BlackRock is a major institutional investor, and their significant holding indicates a vote of confidence in W&T Offshore's future, potentially signaling stability or future growth prospects for the stock.
Why It Matters
BlackRock's substantial ownership stake in W&T Offshore signals institutional confidence, which can influence other investors and potentially stabilize the stock price.
Risk Assessment
Risk Level: low — This filing indicates a large institutional investor has a significant stake, which generally adds stability rather than risk.
Analyst Insight
A smart investor would view BlackRock's significant stake as a positive signal, potentially indicating long-term value, and might consider further research into W&T Offshore's fundamentals.
Key Numbers
- 6,560,000 — Shares Beneficially Owned (This is the total number of W&T Offshore shares BlackRock Inc. reported owning.)
- 6.5% — Ownership Percentage (This represents BlackRock Inc.'s significant stake in W&T Offshore, indicating a substantial investment.)
- December 31, 2023 — Reporting Date (This is the specific date for which the ownership data is accurate, providing a clear snapshot of BlackRock's holdings.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- W&T Offshore, Inc. (company) — the subject company whose shares are being reported
- 6,560,000 (dollar_amount) — number of shares beneficially owned by BlackRock
- 6.5% (dollar_amount) — percentage of W&T Offshore's common stock owned by BlackRock
- December 31, 2023 (person) — the date of the event requiring the filing
- January 29, 2024 (person) — the filing date of the SC 13G
Forward-Looking Statements
- BlackRock will maintain its significant stake in W&T Offshore for the foreseeable future. (BlackRock Inc.) — medium confidence, target: December 31, 2024
- W&T Offshore's stock price will experience increased stability due to institutional backing. (W&T Offshore, Inc.) — medium confidence, target: June 30, 2024
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person is BlackRock Inc., as stated under 'Names of reporting persons. BlackRock, Inc.' in the filing.
What is the name of the issuer whose securities are being reported?
The issuer is W&T OFFSHORE, INC., as indicated under '(Name of Issuer) W&T OFFSHORE, INC.' in the filing.
What percentage of W&T Offshore, Inc.'s common stock does BlackRock Inc. beneficially own?
BlackRock Inc. beneficially owns 6.5% of W&T Offshore, Inc.'s common stock, as derived from the filing's data.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as explicitly stated in the filing.
What is the CUSIP number for the class of securities reported?
The CUSIP number for the Common Stock of W&T Offshore, Inc. is 92922P106, as listed in the filing.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 29, 2024 by December 31, 2023 regarding W&T OFFSHORE INC (WTI).