Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of W&T Offshore, Inc. (NYSE:WTI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,064,305 shares of the oil and gas company's stock, valued at approximately $3,353,000. Connor Clark & Lunn Investment Management Ltd. owned 0.71% of W&T Offshore as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of W&T Offshore in the second quarter valued at $26,065,000. Vanguard Group Inc. lifted its position in W&T Offshore by 0.3% during the third quarter. Vanguard Group Inc. now owns 6,828,361 shares of the oil and gas company's stock worth $12,428,000 after buying an additional 19,283 shares during the period. Millennium Management LLC boosted its stake in W&T Offshore by 24.2% in 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 buying an additional 598,614 shares during the last quarter. State Street Corp boosted its stake in W&T Offshore by 0.5% in the 4th quarter. State Street Corp now owns 2,680,643 shares of the oil and gas company's stock worth $4,369,000 after buying an additional 14,426 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in W&T Offshore by 25.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,540,588 shares of the oil and gas company's stock valued at $4,141,000 after buying an additional 508,050 shares during the period. Institutional investors and hedge funds own 42.88% of the company's stock.
W&T Offshore Stock Performance
WTI opened at $3.60 on Friday. The firm has a 50 day moving average price of $3.49 and a 200 day moving average price of $3.42. The company has a market cap of $543.38 million, a PE ratio of -4.93 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 (NYSE:WTI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). The business had revenue of $162.62 million for the quarter, compared to analysts' expectations of $157.46 million. On average, sell-side analysts predict that W&T Offshore, Inc. will post -0.09 earnings per share for the current year.
W&T Offshore Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 19th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, August 19th. W&T Offshore's payout ratio is currently -5.48%.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Roth Capital set a $4.25 price objective on shares of W&T Offshore in a report on Tuesday, July 21st. Wall Street Zen downgraded shares of W&T Offshore from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of W&T Offshore in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $4.25.
Read Our Latest Report on W&T Offshore
W&T Offshore Company Profile
(
Free Report)
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.
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