W&T Offshore, Inc. (NYSE:WTI) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its position in W&T Offshore, Inc. (NYSE:WTI) by 48.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 987,058 shares of the oil and gas company’s stock after selling 944,470 shares during the period. Dimensional Fund Advisors LP owned approximately 0.67% of W&T Offshore worth $2,112,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of W&T Offshore by 26.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,409 shares of the oil and gas company’s stock valued at $78,000 after purchasing an additional 6,187 shares during the period. Sanders Morris Harris LLC acquired a new position in shares of W&T Offshore in the first quarter valued at about $26,000. Norden Group LLC acquired a new position in shares of W&T Offshore in the first quarter valued at about $29,000. CCG Wealth Management LLC acquired a new position in shares of W&T Offshore in the second quarter valued at about $26,000. Finally, Signaturefd LLC increased its holdings in shares of W&T Offshore by 203.1% in the second quarter. Signaturefd LLC now owns 19,640 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 13,161 shares during the period. 42.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered W&T Offshore from a “hold” rating to a “sell” rating in a report on Thursday, September 19th.

W&T Offshore Price Performance

W&T Offshore stock opened at $2.24 on Friday. The firm has a market cap of $328.96 million, a price-to-earnings ratio of -14.93 and a beta of 1.39. W&T Offshore, Inc. has a 52 week low of $1.92 and a 52 week high of $4.32. The business’s 50-day moving average price is $2.21 and its 200 day moving average price is $2.29. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 75.32.

W&T Offshore (NYSE:WTI) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $142.70 million for the quarter, compared to analyst estimates of $148.05 million. W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the business earned ($0.08) earnings per share. As a group, sell-side analysts anticipate that W&T Offshore, Inc. will post -0.35 earnings per share for the current year.

W&T Offshore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.04 dividend on an annualized basis and a yield of 1.79%. W&T Offshore’s dividend payout ratio is currently -26.67%.

W&T Offshore Company Profile

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.