Jacobs Levy Equity Management Inc. Makes New Investment in W&T Offshore, Inc. (NYSE:WTI)

Jacobs Levy Equity Management Inc. acquired a new stake in W&T Offshore, Inc. (NYSE:WTI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 968,552 shares of the oil and gas company's stock, valued at approximately $1,608,000. Jacobs Levy Equity Management Inc. owned 0.66% of W&T Offshore as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Huber Capital Management LLC grew its stake in 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 valued at $8,384,000 after acquiring an additional 483,954 shares during the period. Quantbot Technologies LP bought a new position in shares of W&T Offshore in the fourth quarter valued at approximately $111,000. Bank of New York Mellon Corp lifted its holdings in shares of W&T Offshore by 41.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,262,488 shares of the oil and gas company's stock valued at $2,096,000 after purchasing an additional 368,803 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of W&T Offshore in the fourth quarter valued at approximately $32,000. Finally, Wells Fargo & Company MN lifted its holdings 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 valued at $77,000 after purchasing an additional 13,237 shares in the last quarter. Institutional investors and hedge funds own 42.88% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded W&T Offshore from a "sell" rating to a "hold" rating in a report on Thursday, May 8th.

W&T Offshore Stock Down 3.2%

Shares of WTI stock traded down $0.05 during trading hours on Thursday, reaching $1.36. The company had a trading volume of 463,168 shares, compared to its average volume of 1,695,117. W&T Offshore, Inc. has a 12 month low of $1.09 and a 12 month 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 business has a fifty day simple moving average of $1.34 and a 200-day simple moving average of $1.61. The company has a market cap of $200.07 million, a price-to-earnings ratio of -3.15 and a beta of 0.53.

W&T Offshore (NYSE:WTI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.01. The business had revenue of $129.87 million for the quarter, compared to analyst estimates 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, research analysts expect that W&T Offshore, Inc. will post -0.45 earnings per share for the current fiscal year.

W&T Offshore Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 20th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.04 dividend on an annualized basis and a yield of 2.95%. W&T Offshore's dividend payout ratio (DPR) is currently -5.56%.

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.