Sei Investments Co. grew its stake in shares of W&T Offshore, Inc. (NYSE:WTI – Free Report) by 1,596.5% in the first quarter, HoldingsChannel.com reports. The firm owned 297,870 shares of the oil and gas company’s stock after purchasing an additional 280,312 shares during the period. Sei Investments Co.’s holdings in W&T Offshore were worth $1,016,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS Group AG lifted its position in shares of W&T Offshore by 381.1% in the 4th quarter. UBS Group AG now owns 2,400,024 shares of the oil and gas company’s stock worth $3,912,000 after purchasing an additional 1,901,213 shares during the period. Brevan Howard Capital Management LP increased its holdings in W&T Offshore by 19.2% during the second quarter. Brevan Howard Capital Management LP now owns 156,247 shares of the oil and gas company’s stock valued at $258,000 after buying an additional 25,186 shares during the period. Bank of America Corp DE raised its stake in W&T Offshore by 46.6% in the second quarter. Bank of America Corp DE now owns 468,643 shares of the oil and gas company’s stock worth $773,000 after buying an additional 149,000 shares in the last quarter. Raymond James Financial Inc. raised its stake in W&T Offshore by 42.7% in the second quarter. Raymond James Financial Inc. now owns 21,957 shares of the oil and gas company’s stock worth $36,000 after buying an additional 6,569 shares in the last quarter. Finally, Banco BTG Pactual S.A. purchased a new stake in W&T Offshore during the second quarter worth $66,000. 42.88% of the stock is owned by hedge funds and other institutional investors.
W&T Offshore Stock Down 3.1%
Shares of W&T Offshore stock opened at $3.69 on Thursday. The company has a market cap of $556.98 million, a P/E ratio of -5.05 and a beta of 0.24. The firm’s 50 day moving average price is $3.48 and its 200-day moving average price is $3.30. W&T Offshore, Inc. has a 52-week low of $1.50 and a 52-week high of $5.08.
W&T Offshore Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. W&T Offshore’s dividend payout ratio is currently -5.48%.
Analyst Ratings Changes
Several brokerages have issued reports on WTI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a research report on Friday, July 17th. Wall Street Zen lowered W&T Offshore from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. William Blair initiated coverage on W&T Offshore in a research note on Friday, April 17th. They set an “outperform” rating for the company. Finally, Roth Capital set a $4.25 price objective on W&T Offshore in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.25.
About W&T Offshore
W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.
Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.
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