Deprince Race & Zollo Inc. Sells 1,388,501 Shares of W&T Offshore, Inc. $WTI

Deprince Race & Zollo Inc. lessened its holdings in W&T Offshore, Inc. (NYSE:WTI) by 92.4% during the first quarter, Holdings Channel.com reports. The firm owned 114,406 shares of the oil and gas company’s stock after selling 1,388,501 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in W&T Offshore were worth $390,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WTI. JPMorgan Chase & Co. increased its holdings in shares of W&T Offshore by 447.3% in the third quarter. JPMorgan Chase & Co. now owns 257,635 shares of the oil and gas company’s stock worth $469,000 after buying an additional 210,564 shares during the period. UBS Group AG lifted its stake 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 valued at $3,912,000 after acquiring an additional 1,901,213 shares during the last quarter. SG Americas Securities LLC boosted its holdings in W&T Offshore by 81.7% during the 4th quarter. SG Americas Securities LLC now owns 34,165 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 15,360 shares during the period. Octavia Wealth Advisors LLC boosted its holdings in W&T Offshore by 61.1% during the 4th quarter. Octavia Wealth Advisors LLC now owns 50,750 shares of the oil and gas company’s stock valued at $83,000 after acquiring an additional 19,250 shares during the period. Finally, LPL Financial LLC purchased a new stake in W&T Offshore during the 4th quarter valued at about $42,000. 42.88% of the stock is owned by institutional investors.

W&T Offshore Trading Up 0.2%

WTI stock opened at $3.08 on Friday. The firm’s 50-day moving average price is $3.86 and its two-hundred day moving average price is $2.93. W&T Offshore, Inc. has a 12-month low of $1.50 and a 12-month high of $5.08. The stock has a market capitalization of $458.99 million, a price-to-earnings ratio of -3.25 and a beta of 0.24.

W&T Offshore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Thursday, May 21st. W&T Offshore’s payout ratio is currently -4.21%.

Analyst Ratings Changes

A number of equities analysts have commented on WTI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a research note on Monday, April 20th. William Blair started coverage on W&T Offshore in a research report on Friday, April 17th. They issued an “outperform” rating for the company. Finally, Wall Street Zen raised W&T Offshore from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. 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 has an average rating of “Hold”.

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.