W&T Offshore, Inc. (NYSE:WTI) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its holdings in W&T Offshore, Inc. (NYSE:WTI) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,983,862 shares of the oil and gas company’s stock after selling 268,765 shares during the period. Vanguard Group Inc. owned about 4.08% of W&T Offshore worth $26,209,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Creative Planning boosted its holdings in shares of W&T Offshore by 15.9% in the 4th quarter. Creative Planning now owns 18,228 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 2,503 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in W&T Offshore by 17.9% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 16,602 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 2,522 shares during the period. FMR LLC boosted its stake in W&T Offshore by 18.3% during the 1st quarter. FMR LLC now owns 16,581 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 2,570 shares during the period. Public Employees Retirement System of Ohio boosted its stake in W&T Offshore by 5.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 53,026 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 2,765 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in W&T Offshore by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 383,361 shares of the oil and gas company’s stock valued at $1,947,000 after purchasing an additional 3,013 shares during the period. 42.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus boosted their target price on shares of W&T Offshore from $7.60 to $7.90 and gave the company a “buy” rating in a research note on Tuesday, January 23rd.

W&T Offshore Trading Up 1.0 %

W&T Offshore stock opened at $2.61 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 11.58. The firm has a 50-day moving average price of $2.76 and a two-hundred day moving average price of $3.26. The firm has a market capitalization of $382.57 million, a price-to-earnings ratio of 26.05 and a beta of 1.52. W&T Offshore, Inc. has a 52-week low of $2.45 and a 52-week high of $5.36.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings results on Tuesday, March 5th. The oil and gas company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). The company had revenue of $132.30 million during the quarter, compared to analyst estimates of $138.23 million. W&T Offshore had a negative return on equity of 71.70% and a net margin of 2.93%. The company’s revenue was down 30.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 earnings per share. Sell-side analysts expect that W&T Offshore, Inc. will post 0.07 earnings per share for the current year.

W&T Offshore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 18th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Friday, March 15th. W&T Offshore’s dividend payout ratio is currently 40.00%.

W&T Offshore Company Profile

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.