W&T Offshore, Inc. (NYSE:WTI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in W&T Offshore, Inc. (NYSE:WTI) by 98.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,825 shares of the oil and gas company’s stock after selling 1,241,990 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in W&T Offshore were worth $61,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. SG Americas Securities LLC raised its holdings in W&T Offshore by 72.3% in the 4th quarter. SG Americas Securities LLC now owns 20,206 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 8,478 shares during the last quarter. Deutsche Bank AG grew its position in shares of W&T Offshore by 8.7% in the third quarter. Deutsche Bank AG now owns 114,419 shares of the oil and gas company’s stock valued at $501,000 after purchasing an additional 9,146 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of W&T Offshore by 15.7% in the third quarter. New York State Common Retirement Fund now owns 117,467 shares of the oil and gas company’s stock valued at $515,000 after purchasing an additional 15,954 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of W&T Offshore by 2.3% in the third quarter. Bank of New York Mellon Corp now owns 710,301 shares of the oil and gas company’s stock valued at $3,111,000 after purchasing an additional 15,987 shares during the last quarter. Finally, Morgan Dempsey Capital Management LLC purchased a new position in W&T Offshore during the fourth quarter worth approximately $63,000. 42.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Stifel Nicolaus upped their target price on W&T Offshore from $7.50 to $7.80 and gave the company a “buy” rating in a report on Tuesday, April 23rd.

W&T Offshore Price Performance

W&T Offshore stock opened at $2.39 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 11.58. The company has a 50-day moving average price of $2.66 and a 200 day moving average price of $3.13. W&T Offshore, Inc. has a 12-month low of $2.30 and a 12-month high of $4.54. The stock has a market cap of $350.26 million, a P/E ratio of 23.50 and a beta of 1.52.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Tuesday, March 5th. The oil and gas company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.08). The firm had revenue of $132.30 million during the quarter, compared to analysts’ expectations of $138.23 million. W&T Offshore had a net margin of 2.93% and a negative return on equity of 71.70%. The business’s quarterly revenue was down 30.3% on a year-over-year basis. During the same period last year, the company earned $0.10 EPS. Sell-side analysts anticipate that W&T Offshore, Inc. will post -0.12 earnings per share for the current year.

W&T Offshore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 18th were given a $0.01 dividend. The ex-dividend date was Friday, March 15th. This represents a $0.04 dividend on an annualized basis and a yield of 1.68%. W&T Offshore’s dividend payout ratio is currently 40.00%.

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.