The Manufacturers Life Insurance Company Acquires 7,142 Shares of W&T Offshore, Inc. (NYSE:WTI)

The Manufacturers Life Insurance Company raised its stake in shares of W&T Offshore, Inc. (NYSE:WTI) by 17.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,209 shares of the oil and gas company’s stock after buying an additional 7,142 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in W&T Offshore were worth $101,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WTI. CCG Wealth Management LLC purchased a new position in W&T Offshore during the second quarter worth about $26,000. Norden Group LLC purchased a new position in shares of W&T Offshore during the first quarter worth about $29,000. Caprock Group LLC purchased a new position in shares of W&T Offshore during the second quarter worth about $34,000. Paloma Partners Management Co bought a new position in shares of W&T Offshore in the first quarter worth approximately $36,000. Finally, Sei Investments Co. purchased a new stake in W&T Offshore in the second quarter valued at approximately $37,000. 42.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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.

W&T Offshore Trading Up 1.0 %

NYSE WTI opened at $2.11 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 75.32. The stock’s 50-day simple moving average is $2.20 and its two-hundred day simple moving average is $2.27. W&T Offshore, Inc. has a twelve month low of $1.92 and a twelve month high of $4.32. The company has a market capitalization of $309.87 million, a price-to-earnings ratio of -12.41 and a beta of 1.39.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The firm had revenue of $142.70 million for the quarter, compared to analysts’ expectations of $148.05 million. W&T Offshore had a negative net margin of 4.51% and a negative return on equity of 103.71%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) earnings per share. Research analysts forecast that W&T Offshore, Inc. will post -0.46 EPS for the current fiscal year.

W&T Offshore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th were paid a $0.01 dividend. 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 -23.53%.

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.