Sei Investments Co. Acquires 280,312 Shares of W&T Offshore, Inc. $WTI

Sei Investments Co. grew its holdings in W&T Offshore, Inc. (NYSE:WTI) by 1,596.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 297,870 shares of the oil and gas company’s stock after purchasing an additional 280,312 shares during the quarter. Sei Investments Co. owned about 0.20% of W&T Offshore worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in WTI. StoneX Group Inc. acquired a new stake in W&T Offshore during the fourth quarter worth approximately $28,000. Oxford Asset Management LLP acquired a new position in W&T Offshore in the second quarter valued at approximately $29,000. Dynamic Technology Lab Private Ltd bought a new position in shares of W&T Offshore during the 3rd quarter worth approximately $32,000. Engineers Gate Manager LP bought a new position in shares of W&T Offshore during the 4th quarter worth approximately $32,000. Finally, Capricorn Fund Managers Ltd acquired a new stake in shares of W&T Offshore during the 1st quarter worth approximately $34,000. Institutional investors own 42.88% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on WTI shares. William Blair began coverage on shares of W&T Offshore in a research note on Friday, April 17th. They issued an “outperform” rating for the company. 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 shares of W&T Offshore in a research note on Tuesday, July 21st. Finally, Wall Street Zen downgraded shares of W&T Offshore from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, W&T Offshore currently has a consensus rating of “Hold” and an average target price of $4.25.

W&T Offshore Stock Performance

Shares of W&T Offshore stock opened at $3.69 on Thursday. W&T Offshore, Inc. has a 52 week low of $1.50 and a 52 week high of $5.08. The stock has a 50 day moving average price of $3.48 and a two-hundred day moving average price of $3.30. The stock has a market capitalization of $556.98 million, a PE ratio of -5.05 and a beta of 0.24.

W&T Offshore (NYSE:WTI) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $162.62 million during the quarter, compared to the consensus estimate of $157.46 million. Research analysts forecast that W&T Offshore, Inc. will post -0.1 EPS for the current year.

W&T Offshore Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. W&T Offshore’s payout ratio is -5.48%.

W&T Offshore Profile

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.