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

Fisher Asset Management LLC trimmed its stake in shares of W&T Offshore, Inc. (NYSE:WTI) by 29.0% in the fourth quarter, HoldingsChannel.com reports. 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’s holdings in W&T Offshore were worth $1,006,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WTI. UBS Group AG increased its holdings in 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 buying an additional 1,901,213 shares during the period. Millennium Management LLC lifted its holdings in shares of W&T Offshore by 33.9% during the 3rd quarter. Millennium Management LLC now owns 2,560,561 shares of the oil and gas company’s stock worth $4,660,000 after acquiring an additional 647,596 shares during the period. First Trust Advisors LP acquired a new stake in shares of W&T Offshore during the 3rd quarter worth approximately $853,000. Jane Street Group LLC increased its stake in W&T Offshore by 826.2% in the first quarter. Jane Street Group LLC now owns 324,807 shares of the oil and gas company’s stock valued at $503,000 after acquiring an additional 289,739 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in W&T Offshore in the second quarter valued at approximately $357,000. 42.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a research note on Monday, April 20th. Zacks Research lowered W&T Offshore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. William Blair initiated coverage on W&T Offshore in a report on Friday, April 17th. They set an “outperform” rating for the company. Finally, Wall Street Zen raised W&T Offshore from a “hold” rating to a “buy” rating in a report on Saturday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold”.

W&T Offshore Trading Down 1.5%

Shares of W&T Offshore stock opened at $3.67 on Friday. The firm’s 50 day moving average is $3.64 and its 200 day moving average is $2.64. The firm has a market capitalization of $545.28 million, a PE ratio of -3.86 and a beta of 0.29. W&T Offshore, Inc. has a 1 year low of $1.46 and a 1 year high of $5.08.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Thursday, May 7th. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.17). The company had revenue of $150.02 million for the quarter, compared to analyst estimates of $138.41 million. As a group, research analysts anticipate that W&T Offshore, Inc. will post -0.12 earnings per share for the current year.

W&T Offshore Announces Dividend

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