R Squared Ltd Reduces Holdings in W&T Offshore, Inc. $WTI

R Squared Ltd trimmed its stake in W&T Offshore, Inc. (NYSE:WTI) by 24.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,620 shares of the oil and gas company’s stock after selling 11,880 shares during the period. R Squared Ltd’s holdings in W&T Offshore were worth $60,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. MetLife Investment Management LLC lifted its position in W&T Offshore by 105.2% during the 1st quarter. MetLife Investment Management LLC now owns 45,436 shares of the oil and gas company’s stock valued at $70,000 after acquiring an additional 23,299 shares during the period. Simplicity Wealth LLC purchased a new position in W&T Offshore during the 2nd quarter valued at about $101,000. Ethic Inc. lifted its position in W&T Offshore by 99.6% during the 2nd quarter. Ethic Inc. now owns 68,342 shares of the oil and gas company’s stock valued at $118,000 after acquiring an additional 34,110 shares during the period. Deutsche Bank AG lifted its position in W&T Offshore by 3,916.8% during the 1st quarter. Deutsche Bank AG now owns 86,322 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 84,173 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in W&T Offshore by 18.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 97,443 shares of the oil and gas company’s stock valued at $161,000 after acquiring an additional 14,988 shares during the period. 42.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WTI has been the subject of a number of recent research reports. Wall Street Zen raised shares of W&T Offshore from a “sell” rating to a “hold” rating in a research report on Sunday, September 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a research report on Friday. Finally, Pareto Securities initiated coverage on shares of W&T Offshore in a research report on Thursday, September 4th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, W&T Offshore currently has an average rating of “Hold”.

W&T Offshore Stock Performance

NYSE:WTI opened at $2.26 on Monday. The firm has a market cap of $334.50 million, a P/E ratio of -2.97 and a beta of 0.65. W&T Offshore, Inc. has a fifty-two week low of $1.09 and a fifty-two week high of $2.59. The firm has a 50-day simple moving average of $1.92 and a two-hundred day simple moving average of $1.71.

W&T Offshore (NYSE:WTI) last released its quarterly earnings data on Monday, August 4th. The oil and gas company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.06. The firm had revenue of $122.37 million for the quarter, compared to the consensus estimate of $131.30 million. On average, equities research analysts predict that W&T Offshore, Inc. will post -0.45 EPS for the current year.

W&T Offshore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 18th were paid a $0.01 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.8%. W&T Offshore’s payout ratio is currently -5.26%.

W&T Offshore 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.