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

Deprince Race & Zollo Inc. decreased its holdings in shares of W&T Offshore, Inc. (NYSE:WTI) by 92.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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. owned 0.08% of W&T Offshore worth $390,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capricorn Fund Managers Ltd purchased a new stake in W&T Offshore in the first quarter valued at approximately $34,000. StoneX Group Inc. purchased a new position in W&T Offshore in the 4th quarter worth approximately $28,000. Dynamic Technology Lab Private Ltd purchased a new position in W&T Offshore in the 3rd quarter worth approximately $32,000. Oxford Asset Management LLP purchased a new position in W&T Offshore in the 2nd quarter worth approximately $29,000. Finally, Engineers Gate Manager LP bought a new position in shares of W&T Offshore in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 42.88% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on WTI shares. William Blair began coverage on shares of W&T Offshore in a research report on Friday, April 17th. They set an “outperform” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a research report on Monday, April 20th. 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 investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.

W&T Offshore Trading Up 0.2%

Shares of NYSE WTI opened at $3.08 on Friday. The stock’s 50-day moving average is $3.86 and its 200 day moving average is $2.93. The stock has a market cap of $458.99 million, a price-to-earnings ratio of -3.25 and a beta of 0.24. W&T Offshore, Inc. has a 1-year low of $1.50 and a 1-year high of $5.08.

W&T Offshore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were given 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 dividend payout ratio (DPR) is presently -4.21%.

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.