Aristeia Capital L.L.C. Sells 207,537 Shares of W&T Offshore, Inc. $WTI

Key Points

• Aristeia Capital L.L.C. reduced its stake in W&T Offshore, Inc. by 53.4%, now holding 180,749 shares valued at approximately $280,000.
• Institutional interest remains strong, with firms like Price T Rowe Associates and MetLife Investment Management significantly increasing their positions in W&T Offshore during the last quarter.
• W&T Offshore's stock has a consensus rating of "Buy", despite recent downgrades from some analysts and a negative earnings report.

Aristeia Capital L.L.C. reduced its position in W&T Offshore, Inc. (NYSE:WTI - Free Report) by 53.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 180,749 shares of the oil and gas company's stock after selling 207,537 shares during the period. Aristeia Capital L.L.C. owned 0.12% of W&T Offshore worth $280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of W&T Offshore in the 4th quarter valued at $32,000. Ethic Inc. acquired a new stake in shares of W&T Offshore in the 4th quarter valued at $36,000. Price T Rowe Associates Inc. MD increased its stake in shares of W&T Offshore by 24.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,829 shares of the oil and gas company's stock valued at $67,000 after buying an additional 7,776 shares during the period. MetLife Investment Management LLC increased its stake in shares of W&T Offshore by 105.2% in the 1st quarter. MetLife Investment Management LLC now owns 45,436 shares of the oil and gas company's stock valued at $70,000 after buying an additional 23,299 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of W&T Offshore by 39.9% in the 4th quarter. Wells Fargo & Company MN now owns 46,419 shares of the oil and gas company's stock valued at $77,000 after buying an additional 13,237 shares during the period. 42.88% of the stock is owned by institutional investors and hedge funds.

W&T Offshore Stock Down 0.3%

Shares of W&T Offshore stock traded down $0.01 during trading on Friday, reaching $1.74. 558,443 shares of the company were exchanged, compared to its average volume of 830,042. W&T Offshore, Inc. has a twelve month low of $1.09 and a twelve month high of $2.84. The business has a 50-day moving average price of $1.76 and a 200-day moving average price of $1.59. The firm has a market capitalization of $257.37 million, a price-to-earnings ratio of -2.28 and a beta of 0.73.

W&T Offshore (NYSE:WTI - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The oil and gas company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.06. The company had revenue of $122.37 million for the quarter, compared to analyst estimates of $131.30 million. On average, equities research analysts forecast that W&T Offshore, Inc. will post -0.45 EPS for the current fiscal year.

W&T Offshore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were issued a dividend of $0.01 per share. The ex-dividend date was Monday, August 18th. This represents a $0.04 annualized dividend and a yield of 2.3%. W&T Offshore's payout ratio is currently -5.26%.

Analysts Set New Price Targets

Several research firms have recently commented on WTI. Wall Street Zen raised W&T Offshore from a "sell" rating to a "hold" rating in a research note on Sunday. Pareto Securities started coverage on W&T Offshore in a research note on Thursday, September 4th. They set a "buy" rating for the company. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy".

W&T Offshore Profile

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.