W&T Offshore, Inc. $WTI Stock Position Increased by Renaissance Technologies LLC

Renaissance Technologies LLC grew its position in W&T Offshore, Inc. (NYSE:WTI) by 158.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 590,300 shares of the oil and gas company’s stock after purchasing an additional 361,900 shares during the period. Renaissance Technologies LLC owned approximately 0.40% of W&T Offshore worth $2,013,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UBS Group AG raised its stake in W&T Offshore by 381.1% during 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 in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of W&T Offshore by 115.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,666,494 shares of the oil and gas company’s stock worth $2,716,000 after acquiring an additional 894,221 shares during the period. Millennium Management LLC boosted its holdings in shares of W&T Offshore by 33.9% in the third quarter. Millennium Management LLC now owns 2,560,561 shares of the oil and gas company’s stock valued at $4,660,000 after acquiring an additional 647,596 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of W&T Offshore during the first quarter valued at approximately $2,205,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of W&T Offshore by 25.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,540,588 shares of the oil and gas company’s stock valued at $4,141,000 after acquiring an additional 508,050 shares during the period. 42.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WTI has been the subject of a number of research analyst reports. William Blair started coverage on W&T Offshore in a research report on Friday, April 17th. They issued an “outperform” rating for the company. Roth Capital set a $4.25 price target on W&T Offshore in a research report on Tuesday, July 21st. Wall Street Zen downgraded W&T Offshore from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, W&T Offshore presently has an average rating of “Hold” and a consensus price target of $4.25.

W&T Offshore Stock Performance

W&T Offshore stock opened at $3.81 on Wednesday. W&T Offshore, Inc. has a twelve month low of $1.50 and a twelve month high of $5.08. The firm has a market cap of $574.33 million, a PE ratio of -5.21 and a beta of 0.24. The firm’s 50 day moving average price is $3.49 and its two-hundred day moving average price is $3.29.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $162.62 million for the quarter, compared to analyst estimates of $157.46 million. Equities analysts anticipate that W&T Offshore, Inc. will post -0.11 EPS for the current fiscal year.

W&T Offshore Announces Dividend

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

W&T Offshore Company 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.