Squarepoint Ops LLC Acquires New Holdings in W&T Offshore, Inc. $WTI

Key Points

• Squarepoint Ops LLC acquired 637,318 shares of W&T Offshore in the second quarter, worth approximately $2.0 million and representing 0.42% of the company. Institutional investors collectively own 42.88% of W&T Offshore.
• Analyst sentiment is mixed, with one Buy, one Hold, and one Sell rating; the consensus rating is Hold with an average price target of $4.25.
• W&T Offshore reported quarterly EPS of $0.02, below the $0.04 consensus estimate, although revenue of $162.62 million exceeded expectations. The company paid a quarterly dividend of $0.01, equivalent to a 1.0% annualized yield.

Squarepoint Ops LLC bought a new stake in shares of W&T Offshore, Inc. (NYSE:WTI - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 637,318 shares of the oil and gas company's stock, valued at approximately $2,008,000. Squarepoint Ops LLC owned 0.42% of W&T Offshore as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of WTI. BlackRock Inc. bought a new stake in shares of W&T Offshore during the second quarter valued at about $26,065,000. UBS Group AG grew its position in W&T Offshore by 381.1% in the 4th quarter. UBS Group AG now owns 2,400,024 shares of the oil and gas company's stock valued at $3,912,000 after buying an additional 1,901,213 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in W&T Offshore during the 2nd quarter valued at about $3,592,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in W&T Offshore during the 2nd quarter valued at about $3,353,000. Finally, Algert Global LLC raised its position in shares of W&T Offshore by 185.8% during the 2nd quarter. Algert Global LLC now owns 1,589,137 shares of the oil and gas company's stock worth $5,006,000 after buying an additional 1,033,167 shares in the last quarter. Institutional investors own 42.88% of the company's stock.

Wall Street Analysts Forecast Growth

WTI has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of W&T Offshore in a research note on Friday, July 17th. Wall Street Zen cut W&T Offshore from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Finally, Roth Capital set a $4.25 target price on W&T Offshore in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $4.25.

W&T Offshore Stock Down 2.8%

NYSE:WTI opened at $4.00 on Tuesday. The business's 50-day moving average price is $3.66 and its 200 day moving average price is $3.55. W&T Offshore, Inc. has a 52-week low of $1.50 and a 52-week high of $5.08. The firm has a market cap of $603.01 million, a P/E ratio of -5.47 and a beta of 0.28.

W&T Offshore (NYSE:WTI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $162.62 million for the quarter, compared to the consensus estimate of $157.46 million. Sell-side analysts expect that W&T Offshore, Inc. will post -0.08 EPS for the current year.

W&T Offshore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 19th were given a $0.01 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.04 annualized dividend and a yield of 1.0%. W&T Offshore's payout ratio is -5.48%.

W&T Offshore Company Profile

W&T Offshore, Inc is an independent oil and natural gas exploration and production company focused primarily on assets in the U.S. Gulf of Mexico. The company explores for, develops, and produces crude oil, natural gas, and natural gas liquids from offshore properties.

W&T Offshore's operations include interests in producing fields and prospective exploration areas across the Gulf of Mexico, including shallow-water and deepwater assets. Its activities cover the full upstream lifecycle, including geological evaluation, drilling, field development, production, and asset management.

Founded in 1983 by Tracy W.

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