Charles Schwab Investment Management Inc. Purchases 493,692 Shares of W&T Offshore, Inc. $WTI

Key Points

• Charles Schwab Investment Management Inc. increased its stake in W&T Offshore, Inc. by 142.8% during Q1, now owning 839,446 shares worth approximately $1.3 million.
• W&T Offshore reported an earnings per share (EPS) of ($0.08), exceeding analysts' expectations, along with revenue of $122.37 million for the recent quarter.
• The company recently announced a quarterly dividend of $0.01 per share, resulting in an annualized dividend yield of 2.2%.

Charles Schwab Investment Management Inc. lifted its position in W&T Offshore, Inc. (NYSE:WTI - Free Report) by 142.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 839,446 shares of the oil and gas company's stock after buying an additional 493,692 shares during the period. Charles Schwab Investment Management Inc. owned about 0.57% of W&T Offshore worth $1,301,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in shares of W&T Offshore by 137.4% in 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 buying an additional 142,899 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of W&T Offshore by 24.5% in 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 in the last quarter. Ameriprise Financial Inc. lifted its stake 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. Wells Fargo & Company MN lifted its stake in shares of W&T Offshore by 39.9% in the fourth quarter. Wells Fargo & Company MN now owns 46,419 shares of the oil and gas company's stock worth $77,000 after buying an additional 13,237 shares in the last quarter. Finally, Millennium Management LLC lifted its stake 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. Institutional investors own 42.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WTI. Pareto Securities began coverage on shares of W&T Offshore in a research note on Thursday. They issued a "buy" rating for the company. Wall Street Zen lowered shares of W&T Offshore from a "hold" rating to a "sell" rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, W&T Offshore has an average rating of "Buy".

W&T Offshore Price Performance

Shares of NYSE:WTI traded down $0.07 during trading on Friday, hitting $1.76. The company's stock had a trading volume of 934,315 shares, compared to its average volume of 914,194. W&T Offshore, Inc. has a 12 month low of $1.09 and a 12 month high of $2.84. The firm has a market cap of $260.34 million, a price-to-earnings ratio of -2.31 and a beta of 0.73. The company has a 50-day moving average of $1.76 and a 200-day moving average of $1.60.

W&T Offshore (NYSE:WTI - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The oil and gas company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.06. The business had revenue of $122.37 million during the quarter, compared to the consensus estimate of $131.30 million. As a group, research analysts anticipate that W&T Offshore, Inc. will post -0.45 earnings per share for the current year.

W&T Offshore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were paid a dividend of $0.01 per share. The ex-dividend date was Monday, August 18th. This represents a $0.04 dividend on an annualized basis and a yield of 2.3%. W&T Offshore's dividend payout ratio (DPR) 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.