Fisher Asset Management LLC Sells 252,792 Shares of W&T Offshore, Inc. $WTI

Fisher Asset Management LLC lessened its stake in W&T Offshore, Inc. (NYSE:WTI) by 29.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 617,428 shares of the oil and gas company’s stock after selling 252,792 shares during the quarter. Fisher Asset Management LLC owned approximately 0.41% of W&T Offshore worth $1,006,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. UBS Group AG grew its position 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 period. Octavia Wealth Advisors LLC grew its holdings in W&T Offshore by 61.1% during the fourth quarter. Octavia Wealth Advisors LLC now owns 50,750 shares of the oil and gas company’s stock worth $83,000 after purchasing an additional 19,250 shares during the period. Deprince Race & Zollo Inc. grew its holdings in W&T Offshore by 16.0% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,502,907 shares of the oil and gas company’s stock worth $2,450,000 after purchasing an additional 206,810 shares during the period. SG Americas Securities LLC increased its position in W&T Offshore by 81.7% during the fourth quarter. SG Americas Securities LLC now owns 34,165 shares of the oil and gas company’s stock worth $56,000 after buying an additional 15,360 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in W&T Offshore by 447.3% during 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 last quarter. 42.88% of the stock is currently owned by institutional investors and hedge funds.

W&T Offshore Price Performance

WTI opened at $3.67 on Friday. The business has a fifty day simple moving average of $3.64 and a 200 day simple moving average of $2.64. W&T Offshore, Inc. has a 1 year low of $1.46 and a 1 year high of $5.08. The company has a market capitalization of $545.28 million, a PE ratio of -3.86 and a beta of 0.29.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Thursday, May 7th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.17). The business had revenue of $150.02 million during the quarter, compared to analysts’ expectations of $138.41 million. Equities analysts anticipate that W&T Offshore, Inc. will post -0.12 earnings per share for the current fiscal year.

W&T Offshore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.04 dividend on an annualized basis and a yield of 1.1%. W&T Offshore’s payout ratio is currently -4.21%.

Analyst Ratings Changes

WTI has been the subject of a number of recent analyst reports. William Blair initiated coverage on W&T Offshore in a research report on Friday, April 17th. They issued an “outperform” rating for the company. Zacks Research cut W&T Offshore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Wall Street Zen raised W&T Offshore from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a research report on Monday, April 20th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, W&T Offshore has an average rating of “Hold”.

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.