Goldman Sachs Group Inc. Decreases Holdings in W&T Offshore, Inc. $WTI

Key Points

• Goldman Sachs Group Inc. reduced its stake in W&T Offshore by 24.5%, holding 681,041 shares worth approximately $1.06 million after selling 220,588 shares in the first quarter.
• Other institutional investors, such as Deutsche Bank AG and AQR Capital Management LLC, significantly increased their stakes in W&T Offshore, with Deutsche Bank raising its holdings by 3,916.8%.
• W&T Offshore's stock saw a decline of 3.6% with a current trading price of $1.76, and the company recently announced a quarterly dividend of $0.01 per share.

Goldman Sachs Group Inc. decreased its holdings in shares of W&T Offshore, Inc. (NYSE:WTI - Free Report) by 24.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 681,041 shares of the oil and gas company's stock after selling 220,588 shares during the quarter. Goldman Sachs Group Inc. owned about 0.46% of W&T Offshore worth $1,056,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in W&T Offshore by 137.4% during the fourth quarter. Bank of America Corp DE now owns 246,893 shares of the oil and gas company's stock worth $410,000 after acquiring an additional 142,899 shares during the last quarter. Rhumbline Advisers boosted its position in shares of W&T Offshore by 24.5% during the first quarter. Rhumbline Advisers now owns 299,473 shares of the oil and gas company's stock worth $464,000 after buying an additional 59,012 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of W&T Offshore by 142.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 839,446 shares of the oil and gas company's stock worth $1,301,000 after buying an additional 493,692 shares during the period. Millennium Management LLC boosted its position in shares of W&T Offshore by 31.2% during the fourth quarter. Millennium Management LLC now owns 2,472,996 shares of the oil and gas company's stock worth $4,105,000 after buying an additional 588,106 shares during the period. Finally, Nuveen LLC purchased a new position in shares of W&T Offshore during the first quarter worth $472,000. Institutional investors and hedge funds own 42.88% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WTI shares. Pareto Securities started coverage on W&T Offshore in a research report on Thursday, September 4th. They set a "buy" rating for the company. Wall Street Zen upgraded W&T Offshore from a "sell" rating to a "hold" rating in a research report on Sunday, September 14th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy".

W&T Offshore Trading Up 0.9%

NYSE:WTI traded up $0.02 during midday trading on Monday, reaching $1.78. The company had a trading volume of 1,030,307 shares, compared to its average volume of 961,917. The firm has a market capitalization of $263.30 million, a price-to-earnings ratio of -2.34 and a beta of 0.73. The stock's fifty day simple moving average is $1.76 and its 200-day simple moving average is $1.61. W&T Offshore, Inc. has a 12-month low of $1.09 and a 12-month high of $2.84.

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, beating analysts' consensus estimates of ($0.14) by $0.06. The company had revenue of $122.37 million during the quarter, compared to analysts' expectations of $131.30 million. As a group, sell-side analysts expect that W&T Offshore, Inc. will post -0.45 EPS for the current year.

W&T Offshore Announces Dividend

The firm also recently declared 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. This represents a $0.04 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, August 18th. W&T Offshore's payout ratio is -5.26%.

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.