HighTower Advisors LLC Trims Position in W&T Offshore, Inc. (NYSE:WTI)

HighTower Advisors LLC reduced its holdings in W&T Offshore, Inc. (NYSE:WTI) by 21.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,420 shares of the oil and gas company’s stock after selling 9,380 shares during the period. HighTower Advisors LLC’s holdings in W&T Offshore were worth $72,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WTI. BNP Paribas Financial Markets grew its position in W&T Offshore by 307.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 138,029 shares of the oil and gas company’s stock worth $297,000 after purchasing an additional 104,156 shares during the period. FMR LLC raised its position in W&T Offshore by 72.1% during the third quarter. FMR LLC now owns 37,846 shares of the oil and gas company’s stock valued at $81,000 after acquiring an additional 15,852 shares in the last quarter. Intech Investment Management LLC acquired a new position in W&T Offshore in the third quarter valued at approximately $64,000. Ballentine Partners LLC acquired a new position in W&T Offshore in the third quarter valued at approximately $295,000. Finally, Signaturefd LLC boosted its position in W&T Offshore by 86.6% in the 3rd quarter. Signaturefd LLC now owns 36,644 shares of the oil and gas company’s stock worth $79,000 after purchasing an additional 17,004 shares in the last quarter. Institutional investors and hedge funds own 42.88% of the company’s stock.

Analysts Set New Price Targets

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

W&T Offshore Stock Performance

NYSE WTI opened at $1.57 on Friday. The stock has a market capitalization of $231.35 million, a price-to-earnings ratio of -3.65 and a beta of 1.35. The stock has a 50-day moving average of $1.92 and a 200 day moving average of $2.12. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 75.32. W&T Offshore, Inc. has a twelve month low of $1.33 and a twelve month high of $3.44.

W&T Offshore Dividend Announcement

The firm also recently announced 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 was Thursday, November 21st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.55%. W&T Offshore’s dividend payout ratio (DPR) is -9.30%.

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.