Two Sigma Investments LP Lowers Position in W&T Offshore, Inc. (NYSE:WTI)

Two Sigma Investments LP lowered its stake in shares of W&T Offshore, Inc. (NYSE:WTI - Free Report) by 23.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,996,997 shares of the oil and gas company's stock after selling 609,352 shares during the period. Two Sigma Investments LP owned 1.36% of W&T Offshore worth $3,315,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WTI. Ameriprise Financial Inc. raised its position in shares of W&T Offshore by 427.0% in the fourth quarter. Ameriprise Financial Inc. now owns 3,831,604 shares of the oil and gas company's stock worth $6,360,000 after buying an additional 3,104,484 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of W&T Offshore in the fourth quarter worth $1,608,000. Millennium Management LLC raised its position in shares of W&T Offshore by 31.2% in 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 in the last quarter. Huber Capital Management LLC raised its position in shares of W&T Offshore by 10.6% in the fourth quarter. Huber Capital Management LLC now owns 5,050,450 shares of the oil and gas company's stock worth $8,384,000 after buying an additional 483,954 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of W&T Offshore by 86.0% in the fourth quarter. First Trust Advisors LP now owns 974,242 shares of the oil and gas company's stock worth $1,617,000 after buying an additional 450,467 shares in the last quarter. Hedge funds and other institutional investors own 42.88% of the company's stock.

W&T Offshore Price Performance

NYSE WTI traded up $0.08 during trading hours on Tuesday, reaching $1.65. 1,758,045 shares of the stock traded hands, compared to its average volume of 1,669,394. The stock has a 50 day simple moving average of $1.32 and a two-hundred day simple moving average of $1.56. W&T Offshore, Inc. has a 1 year low of $1.09 and a 1 year high of $2.84. The company has a debt-to-equity ratio of 75.32, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $242.89 million, a price-to-earnings ratio of -3.83 and a beta of 0.53.

W&T Offshore (NYSE:WTI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.01. The firm had revenue of $129.87 million for the quarter, compared to analysts' expectations of $123.91 million. W&T Offshore had a negative return on equity of 775.16% and a negative net margin of 11.95%. On average, analysts predict that W&T Offshore, Inc. will post -0.45 EPS for the current fiscal year.

W&T Offshore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 20th were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.04 annualized dividend and a yield of 2.43%. W&T Offshore's dividend payout ratio (DPR) is presently -5.56%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded W&T Offshore from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th.

About W&T Offshore

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.