UBS Group AG Purchases 1,901,213 Shares of W&T Offshore, Inc. $WTI

UBS Group AG lifted its position in shares of W&T Offshore, Inc. (NYSE:WTI) by 381.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,400,024 shares of the oil and gas company’s stock after acquiring an additional 1,901,213 shares during the quarter. UBS Group AG owned approximately 1.61% of W&T Offshore worth $3,912,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Deprince Race & Zollo Inc. grew its stake in shares of W&T Offshore by 16.0% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,502,907 shares of the oil and gas company’s stock worth $2,450,000 after acquiring an additional 206,810 shares during the period. JPMorgan Chase & Co. grew its stake in shares of W&T Offshore by 447.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 257,635 shares of the oil and gas company’s stock worth $469,000 after acquiring an additional 210,564 shares during the period. Numerai GP LLC grew its stake in shares of W&T Offshore by 169.8% during the 3rd quarter. Numerai GP LLC now owns 73,172 shares of the oil and gas company’s stock worth $133,000 after acquiring an additional 46,052 shares during the period. Creative Planning grew its stake in shares of W&T Offshore by 42.3% during the 2nd quarter. Creative Planning now owns 42,885 shares of the oil and gas company’s stock worth $71,000 after acquiring an additional 12,749 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in W&T Offshore by 21.7% in the 3rd quarter. NewEdge Advisors LLC now owns 36,610 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 6,524 shares during the period. Institutional investors own 42.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on WTI shares. Wall Street Zen downgraded W&T Offshore from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a research note on Monday, April 20th. William Blair started coverage on W&T Offshore in a research note on Friday, April 17th. They issued an “outperform” rating for the company. Finally, Zacks Research downgraded W&T Offshore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, W&T Offshore presently has a consensus rating of “Hold”.

W&T Offshore Stock Up 1.3%

Shares of NYSE WTI opened at $4.45 on Friday. The business has a 50-day simple moving average of $3.57 and a two-hundred day simple moving average of $2.57. W&T Offshore, Inc. has a 52 week low of $1.36 and a 52 week high of $5.08. The company has a market cap of $661.33 million, a P/E ratio of -4.68 and a beta of 0.29.

W&T Offshore (NYSE:WTI) last released its quarterly earnings results on Thursday, May 7th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.17). The business had revenue of $150.02 million during the quarter, compared to analysts’ expectations of $138.41 million. Equities research analysts anticipate that W&T Offshore, Inc. will post -0.11 EPS for the current year.

W&T Offshore Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.04 annualized dividend and a dividend yield of 0.9%. W&T Offshore’s dividend payout ratio (DPR) is presently -4.21%.

About W&T Offshore

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.