Fisher Asset Management LLC Has $1.69 Million Holdings in W&T Offshore, Inc. (NYSE:WTI)

Fisher Asset Management LLC lowered its position in W&T Offshore, Inc. (NYSE:WTI) by 9.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 517,245 shares of the oil and gas company’s stock after selling 55,513 shares during the quarter. Fisher Asset Management LLC’s holdings in W&T Offshore were worth $1,686,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WTI. SG Americas Securities LLC bought a new position in W&T Offshore in the 3rd quarter valued at $51,000. Bank of New York Mellon Corp raised 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 buying an additional 15,987 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in W&T Offshore by 5.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,260,815 shares of the oil and gas company’s stock worth $5,522,000 after buying an additional 65,286 shares in the last quarter. Panagora Asset Management Inc. lifted its position in W&T Offshore by 32.9% during the 3rd quarter. Panagora Asset Management Inc. now owns 471,663 shares of the oil and gas company’s stock worth $2,066,000 after buying an additional 116,644 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in W&T Offshore by 15.7% during the 3rd quarter. New York State Common Retirement Fund now owns 117,467 shares of the oil and gas company’s stock worth $515,000 after acquiring an additional 15,954 shares during the last quarter. 42.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

W&T Offshore Price Performance

Shares of WTI opened at $2.34 on Thursday. The business’s fifty day moving average price is $2.55 and its two-hundred day moving average price is $3.03. The firm has a market capitalization of $343.65 million, a price-to-earnings ratio of 23.40 and a beta of 1.56. W&T Offshore, Inc. has a 52 week low of $2.19 and a 52 week high of $4.51. The company has a debt-to-equity ratio of 11.58, a quick ratio of 1.22 and a current ratio of 1.22.

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 (EPS) 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 the consensus estimate of $138.23 million. W&T Offshore had a net margin of 2.93% and a negative return on equity of 71.70%. W&T Offshore’s revenue was down 30.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 EPS. On average, analysts predict that W&T Offshore, Inc. will post -0.12 earnings per share for the current year.

W&T Offshore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 18th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Friday, March 15th. W&T Offshore’s dividend payout ratio is 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.