Jacobs Levy Equity Management Inc. Lowers Position in W&T Offshore, Inc. $WTI

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in W&T Offshore by 42.6%, owning approximately 555,800 shares after selling 412,752 shares during the first quarter.
• Several hedge funds have recently adjusted their holdings in W&T Offshore, with Deutsche Bank AG increasing its stake significantly by 3,916.8%.
• W&T Offshore's latest earnings report showed a loss of ($0.08) earnings per share, beating analysts' estimates by $0.06, while revenue for the quarter was $122.37 million, below expectations.

Jacobs Levy Equity Management Inc. reduced its position in W&T Offshore, Inc. (NYSE:WTI - Free Report) by 42.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 555,800 shares of the oil and gas company's stock after selling 412,752 shares during the period. Jacobs Levy Equity Management Inc. owned 0.38% of W&T Offshore worth $861,000 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. Price T Rowe Associates Inc. MD boosted its stake in shares of W&T Offshore by 24.3% in the fourth 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. Inspire Advisors LLC lifted its stake in W&T Offshore by 10.0% during the first quarter. Inspire Advisors LLC now owns 120,643 shares of the oil and gas company's stock worth $187,000 after purchasing an additional 10,962 shares during the last quarter. R Squared Ltd lifted its stake in W&T Offshore by 48.6% during the first quarter. R Squared Ltd now owns 48,500 shares of the oil and gas company's stock worth $75,000 after purchasing an additional 15,870 shares during the last quarter. Ethic Inc. bought a new stake in W&T Offshore during the fourth quarter worth $36,000. Finally, MetLife Investment Management LLC lifted its stake in W&T Offshore by 105.2% during the first quarter. MetLife Investment Management LLC now owns 45,436 shares of the oil and gas company's stock worth $70,000 after purchasing an additional 23,299 shares during the last quarter. 42.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Pareto Securities initiated coverage on W&T Offshore in a research note 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 note on Sunday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

W&T Offshore Stock Performance

Shares of W&T Offshore stock traded up $0.01 during mid-day trading on Thursday, hitting $1.82. 1,233,124 shares of the stock were exchanged, compared to its average volume of 848,096. W&T Offshore, Inc. has a 12 month low of $1.09 and a 12 month high of $2.84. The company has a 50-day simple moving average of $1.76 and a 200 day simple moving average of $1.60. The company has a market capitalization of $269.24 million, a P/E ratio of -2.39 and a beta of 0.73.

W&T Offshore (NYSE:WTI - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $131.30 million. Analysts predict that W&T Offshore, Inc. will post -0.45 EPS for the current year.

W&T Offshore Announces Dividend

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 of this dividend was Monday, August 18th. This represents a $0.04 dividend on an annualized basis and a yield of 2.2%. W&T Offshore's payout ratio is presently -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.