Allspring Global Investments Holdings LLC Reduces Stock Holdings in W&T Offshore, Inc. (NYSE:WTI)

Allspring Global Investments Holdings LLC lessened its stake in shares of W&T Offshore, Inc. (NYSE:WTI - Free Report) by 98.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,825 shares of the oil and gas company's stock after selling 1,241,990 shares during the period. Allspring Global Investments Holdings LLC's holdings in W&T Offshore were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in W&T Offshore in the 3rd quarter valued at $51,000. Morgan Dempsey Capital Management LLC acquired a new stake in W&T Offshore during the fourth quarter worth about $63,000. Aristeia Capital LLC purchased a new position in W&T Offshore during the third quarter worth about $107,000. EMC Capital Management acquired a new position in W&T Offshore in the 3rd quarter valued at about $381,000. Finally, Deutsche Bank AG boosted its holdings in W&T Offshore by 8.7% in the 3rd quarter. Deutsche Bank AG now owns 114,419 shares of the oil and gas company's stock valued at $501,000 after purchasing an additional 9,146 shares during the last quarter. 42.88% of the stock is owned by hedge funds and other institutional investors.

W&T Offshore Trading Down 5.3 %

Shares of W&T Offshore stock traded down $0.12 during trading hours on Tuesday, hitting $2.26. The company's stock had a trading volume of 1,862,434 shares, compared to its average volume of 2,730,032. The stock has a market cap of $331.17 million, a price-to-earnings ratio of 23.85 and a beta of 1.52. The company has a debt-to-equity ratio of 11.58, a quick ratio of 1.22 and a current ratio of 1.22. W&T Offshore, Inc. has a twelve month low of $2.25 and a twelve month high of $4.54. The firm has a fifty day moving average of $2.65 and a 200-day moving average of $3.12.

W&T Offshore (NYSE:WTI - Get Free Report) last posted its earnings results on Tuesday, March 5th. The oil and gas company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.08). W&T Offshore had a net margin of 2.93% and a negative return on equity of 71.70%. The company had revenue of $132.30 million during the quarter, compared to analyst estimates of $138.23 million. During the same period in the previous year, the company earned $0.10 EPS. The company's quarterly revenue was down 30.3% compared to the same quarter last year. Research analysts forecast that W&T Offshore, Inc. will post -0.12 EPS for the current year.

W&T Offshore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 18th were given a dividend of $0.01 per share. The ex-dividend date was Friday, March 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.77%. W&T Offshore's payout ratio is currently 40.00%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus raised their price target on shares of W&T Offshore from $7.50 to $7.80 and gave the stock a "buy" rating in a report on Tuesday, April 23rd.

About W&T Offshore

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.