Exchange Traded Concepts LLC Makes New Investment in W&T Offshore, Inc. (NYSE:WTI)

Exchange Traded Concepts LLC bought a new stake in shares of W&T Offshore, Inc. (NYSE:WTIFree Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 146,745 shares of the oil and gas company’s stock, valued at approximately $316,000. Exchange Traded Concepts LLC owned 0.10% of W&T Offshore as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Sanders Morris Harris LLC purchased a new stake in W&T Offshore in the first quarter worth $26,000. CCG Wealth Management LLC bought a new stake in W&T Offshore in the 2nd quarter valued at about $26,000. Norden Group LLC purchased a new stake in W&T Offshore during the first quarter valued at about $29,000. Caprock Group LLC bought a new position in W&T Offshore during the second quarter worth about $34,000. Finally, Paloma Partners Management Co purchased a new position in shares of W&T Offshore in the first quarter worth about $36,000. Institutional investors own 42.88% of the company’s stock.

W&T Offshore Stock Performance

NYSE:WTI opened at $2.11 on Friday. W&T Offshore, Inc. has a 52-week low of $1.92 and a 52-week high of $4.32. The business’s fifty day moving average is $2.20 and its 200 day moving average is $2.27. The company has a debt-to-equity ratio of 75.32, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $309.87 million, a price-to-earnings ratio of -14.07 and a beta of 1.39.

W&T Offshore (NYSE:WTIGet Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The firm had revenue of $142.70 million during the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) earnings per share. Research analysts predict that W&T Offshore, Inc. will post -0.39 EPS for the current year.

W&T Offshore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.01 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.90%. W&T Offshore’s dividend payout ratio (DPR) is currently -26.67%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of W&T Offshore from a “hold” rating to a “sell” rating in a research note on Thursday, September 19th.

Read Our Latest Research Report on WTI

W&T Offshore Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for W&T Offshore (NYSE:WTI)

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