Squarepoint Ops LLC bought a new stake in shares of W&T Offshore, Inc. (NYSE:WTI – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 637,318 shares of the oil and gas company’s stock, valued at approximately $2,008,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of W&T Offshore in the second quarter worth about $26,065,000. Algert Global LLC grew its position in W&T Offshore by 185.8% during the 2nd quarter. Algert Global LLC now owns 1,589,137 shares of the oil and gas company’s stock worth $5,006,000 after purchasing an additional 1,033,167 shares in the last quarter. UBS Group AG grew its position in W&T Offshore by 381.1% during 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 in the last quarter. Bank of New York Mellon Corp raised its stake in W&T Offshore by 10.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,137,443 shares of the oil and gas company’s stock valued at $3,879,000 after purchasing an additional 106,779 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in W&T Offshore during the 2nd quarter valued at $3,353,000. Institutional investors and hedge funds own 42.88% of the company’s stock.
Wall Street Analyst Weigh In
WTI has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a report on Friday, July 17th. Roth Capital set a $4.25 price target on W&T Offshore in a research report on Tuesday, July 21st. Finally, Wall Street Zen lowered W&T Offshore from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, W&T Offshore has an average rating of “Hold” and an average price target of $4.25.
W&T Offshore Stock Performance
W&T Offshore stock opened at $4.00 on Tuesday. The firm has a market cap of $603.01 million, a PE ratio of -5.47 and a beta of 0.28. The firm’s 50 day moving average price is $3.66 and its two-hundred day moving average price is $3.55. W&T Offshore, Inc. has a twelve month low of $1.50 and a twelve month high of $5.08.
W&T Offshore (NYSE:WTI – Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $162.62 million for the quarter, compared to the consensus estimate of $157.46 million. Equities analysts anticipate that W&T Offshore, Inc. will post -0.08 EPS for the current fiscal year.
W&T Offshore Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 19th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.0%. W&T Offshore’s dividend payout ratio (DPR) is -5.48%.
About W&T Offshore
W&T Offshore, Inc is an independent oil and natural gas exploration and production company focused primarily on assets in the U.S. Gulf of Mexico. The company explores for, develops, and produces crude oil, natural gas, and natural gas liquids from offshore properties.
W&T Offshore’s operations include interests in producing fields and prospective exploration areas across the Gulf of Mexico, including shallow-water and deepwater assets. Its activities cover the full upstream lifecycle, including geological evaluation, drilling, field development, production, and asset management.
Founded in 1983 by Tracy W.
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