Millennium Management LLC cut its holdings in W&T Offshore, Inc. (NYSE:WTI – Free Report) by 16.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,908,488 shares of the oil and gas company’s stock after selling 592,427 shares during the period. Millennium Management LLC owned about 1.98% of W&T Offshore worth $6,224,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Sanders Morris Harris LLC bought a new position in shares of W&T Offshore in the first quarter worth $26,000. CCG Wealth Management LLC purchased a new stake in shares of W&T Offshore in the second quarter worth $26,000. Norden Group LLC purchased a new position in W&T Offshore during the first quarter worth about $29,000. Caprock Group LLC purchased a new stake in shares of W&T Offshore in the 2nd quarter valued at about $34,000. Finally, Paloma Partners Management Co bought a new stake in W&T Offshore during the first quarter valued at approximately $36,000. 42.88% of the stock is owned by institutional investors.
W&T Offshore Stock Performance
WTI stock opened at $2.24 on Friday. W&T Offshore, Inc. has a 12-month low of $1.92 and a 12-month high of $4.32. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 75.32. The stock’s 50 day simple moving average is $2.21 and its 200 day simple moving average is $2.29. The stock has a market capitalization of $328.23 million, a PE ratio of -14.90 and a beta of 1.39.
W&T Offshore Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders 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 yield of 1.79%. W&T Offshore’s dividend payout ratio is currently -26.66%.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut W&T Offshore from a “hold” rating to a “sell” rating in a report on Thursday, September 19th.
Check Out Our Latest Research Report on W&T Offshore
About W&T Offshore
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.
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