UBS Group AG Grows Position in W&T Offshore, Inc. $WTI

UBS Group AG raised its holdings in W&T Offshore, Inc. (NYSE:WTI) by 381.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,400,024 shares of the oil and gas company’s stock after acquiring an additional 1,901,213 shares during the quarter. UBS Group AG’s holdings in W&T Offshore were worth $3,912,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WTI. AXQ Capital LP purchased a new stake in shares of W&T Offshore in the 3rd quarter valued at about $28,000. Oxford Asset Management LLP purchased a new stake in shares of W&T Offshore in the 2nd quarter valued at about $29,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of W&T Offshore during the 3rd quarter valued at about $30,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of W&T Offshore during the 3rd quarter valued at about $32,000. Finally, SG Americas Securities LLC purchased a new position in shares of W&T Offshore during the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 42.88% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WTI. Wall Street Zen cut W&T Offshore from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Zacks Research cut W&T Offshore from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a report on Monday, April 20th. Finally, William Blair began coverage on W&T Offshore in a report on Friday, April 17th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, W&T Offshore currently has a consensus rating of “Hold”.

W&T Offshore Price Performance

Shares of W&T Offshore stock opened at $4.45 on Friday. The business’s 50 day simple moving average is $3.57 and its two-hundred day simple moving average is $2.57. The stock has a market capitalization of $661.33 million, a P/E ratio of -4.68 and a beta of 0.29. W&T Offshore, Inc. has a one year low of $1.36 and a one year high of $5.08.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The business had revenue of $150.02 million during the quarter, compared to analyst estimates of $138.41 million. Sell-side analysts expect that W&T Offshore, Inc. will post -0.11 earnings per share for the current fiscal year.

W&T Offshore Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, May 21st. W&T Offshore’s payout ratio is -4.21%.

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.