R Squared Ltd Acquires 15,870 Shares of W&T Offshore, Inc. (NYSE:WTI)

R Squared Ltd boosted its holdings in shares of W&T Offshore, Inc. (NYSE:WTI) by 48.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,500 shares of the oil and gas company’s stock after acquiring an additional 15,870 shares during the quarter. R Squared Ltd’s holdings in W&T Offshore were worth $75,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in W&T Offshore by 24.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,829 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 7,776 shares during the period. Inspire Advisors LLC boosted its stake in W&T Offshore by 10.0% during the first quarter. Inspire Advisors LLC now owns 120,643 shares of the oil and gas company’s stock worth $187,000 after buying an additional 10,962 shares in the last quarter. Wells Fargo & Company MN boosted its stake in W&T Offshore by 39.9% during the fourth quarter. Wells Fargo & Company MN now owns 46,419 shares of the oil and gas company’s stock worth $77,000 after buying an additional 13,237 shares in the last quarter. Barclays PLC boosted its stake in W&T Offshore by 11.0% during the fourth quarter. Barclays PLC now owns 156,226 shares of the oil and gas company’s stock worth $259,000 after buying an additional 15,445 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in W&T Offshore during the fourth quarter worth $32,000. Institutional investors own 42.88% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of W&T Offshore from a “hold” rating to a “sell” rating in a research note on Sunday, June 22nd.

W&T Offshore Stock Performance

Shares of NYSE:WTI opened at $1.71 on Monday. W&T Offshore, Inc. has a 52 week low of $1.09 and a 52 week high of $2.84. The company’s fifty day moving average is $1.78 and its 200-day moving average is $1.58. The company has a market capitalization of $251.74 million, a PE ratio of -2.37 and a beta of 0.70.

W&T Offshore (NYSE:WTI) last issued its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. The firm had revenue of $129.87 million during the quarter, compared to analyst estimates of $123.91 million. On average, analysts forecast that W&T Offshore, Inc. will post -0.45 EPS for the current year.

W&T Offshore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, May 20th. W&T Offshore’s payout ratio is currently -5.56%.

W&T Offshore Company Profile

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.