Carmel Capital Partners LLC Reduces Stock Holdings in W&T Offshore, Inc. (NYSE:WTI)

Carmel Capital Partners LLC trimmed its holdings in shares of W&T Offshore, Inc. (NYSE:WTI) by 60.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 55,000 shares of the oil and gas company’s stock after selling 85,000 shares during the period. Carmel Capital Partners LLC’s holdings in W&T Offshore were worth $91,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WTI. Intech Investment Management LLC purchased a new position in W&T Offshore during the 3rd quarter worth $64,000. FMR LLC grew its stake in W&T Offshore by 72.1% during the 3rd quarter. FMR LLC now owns 37,846 shares of the oil and gas company’s stock worth $81,000 after buying an additional 15,852 shares during the last quarter. BNP Paribas Financial Markets grew its stake in W&T Offshore by 307.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 138,029 shares of the oil and gas company’s stock worth $297,000 after buying an additional 104,156 shares during the last quarter. Barclays PLC lifted its position in W&T Offshore by 317.3% during the 3rd quarter. Barclays PLC now owns 140,781 shares of the oil and gas company’s stock worth $303,000 after acquiring an additional 107,045 shares during the period. Finally, Geode Capital Management LLC lifted its position in W&T Offshore by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,146,569 shares of the oil and gas company’s stock worth $4,616,000 after acquiring an additional 52,186 shares during the period. 42.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut W&T Offshore from a “hold” rating to a “sell” rating in a research report on Wednesday.

W&T Offshore Stock Performance

Shares of WTI stock opened at $1.49 on Thursday. The stock has a market cap of $218.83 million, a PE ratio of -3.45 and a beta of 1.32. The business has a 50-day simple moving average of $1.69 and a 200-day simple moving average of $1.93. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 75.32. W&T Offshore, Inc. has a 52-week low of $1.30 and a 52-week high of $2.84.

W&T Offshore Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be issued a $0.01 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.04 dividend on an annualized basis and a yield of 2.69%. W&T Offshore’s payout ratio is -9.30%.

W&T Offshore Company 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.