Aristeia Capital L.L.C. Cuts Position in 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 shares of W&T Offshore, Inc. (NYSE:WTI - Free Report) by 53.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Several other hedge funds also recently modified their holdings of the company. Huber Capital Management LLC boosted its stake in shares of W&T Offshore by 35.8% during the 1st quarter. Huber Capital Management LLC now owns 6,858,684 shares of the oil and gas company's stock worth $10,631,000 after purchasing an additional 1,808,234 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of W&T Offshore by 427.0% during the 4th quarter. Ameriprise Financial Inc. now owns 3,831,604 shares of the oil and gas company's stock worth $6,360,000 after purchasing an additional 3,104,484 shares during the last quarter. Millennium Management LLC boosted its stake in shares of W&T Offshore by 24.2% during the 1st quarter. Millennium Management LLC now owns 3,071,610 shares of the oil and gas company's stock worth $4,761,000 after purchasing an additional 598,614 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of W&T Offshore by 11.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,284,183 shares of the oil and gas company's stock worth $1,990,000 after purchasing an additional 129,564 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of W&T Offshore during the 4th quarter worth about $1,608,000. 42.88% of the stock is owned by institutional investors and hedge funds.

W&T Offshore Stock Down 0.3%

Shares of WTI traded down $0.01 during mid-day trading on Friday, hitting $1.74. The company had a trading volume of 558,443 shares, compared to its average volume of 1,680,043. The business's 50-day simple moving average is $1.76 and its 200-day simple moving average is $1.60. W&T Offshore, Inc. has a 1-year low of $1.09 and a 1-year high of $2.84. The stock has a market cap of $257.37 million, a PE ratio of -2.28 and a beta of 0.73.

W&T Offshore (NYSE:WTI - Get Free Report) last released its earnings results on Monday, August 4th. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.06. The company had revenue of $122.37 million during the quarter, compared to analyst estimates of $131.30 million. On average, sell-side analysts expect that W&T Offshore, Inc. will post -0.45 earnings per share for the current year.

W&T Offshore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 18th were issued a $0.01 dividend. 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 dividend payout ratio (DPR) is presently -5.26%.

Wall Street Analysts Forecast Growth

WTI has been the topic of several analyst reports. Wall Street Zen cut shares of W&T Offshore from a "hold" rating to a "sell" rating in a research note on Saturday, September 6th. Pareto Securities began coverage on shares of W&T Offshore in a research report on Thursday, September 4th. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy".

W&T Offshore Company 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.