Charles Schwab Investment Management Inc. Sells 68,350 Shares of W&T Offshore, Inc. (NYSE:WTI)

Charles Schwab Investment Management Inc. decreased its stake in W&T Offshore, Inc. (NYSE:WTI) by 14.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 414,956 shares of the oil and gas company’s stock after selling 68,350 shares during the period. Charles Schwab Investment Management Inc. owned about 0.28% of W&T Offshore worth $892,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. CCG Wealth Management LLC acquired a new stake in W&T Offshore during the 2nd quarter valued at approximately $26,000. Verum Partners LLC acquired a new stake in shares of W&T Offshore during the third quarter worth $32,000. Caprock Group LLC bought a new position in W&T Offshore during the second quarter worth $34,000. Sei Investments Co. acquired a new position in W&T Offshore in the second quarter valued at $37,000. Finally, Signaturefd LLC boosted its position in W&T Offshore by 203.1% during the second quarter. Signaturefd LLC now owns 19,640 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 13,161 shares during the last quarter. Institutional investors and hedge funds own 42.88% of the company’s stock.

W&T Offshore Price Performance

W&T Offshore stock opened at $1.57 on Wednesday. The stock’s 50 day moving average price is $2.03 and its two-hundred day moving average price is $2.15. The stock has a market capitalization of $230.62 million, a price-to-earnings ratio of -3.65 and a beta of 1.35. The company has a debt-to-equity ratio of 75.32, a quick ratio of 0.98 and a current ratio of 0.98. W&T Offshore, Inc. has a 52-week low of $1.51 and a 52-week high of $3.44.

W&T Offshore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 21st were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.56%. W&T Offshore’s dividend payout ratio (DPR) is presently -9.30%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised W&T Offshore from a “sell” rating to a “hold” rating in a research report on Friday, December 13th.

W&T Offshore 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.