Aristeia Capital L.L.C. Has $667,000 Stake in W&T Offshore, Inc. (NYSE:WTI)

Aristeia Capital L.L.C. raised its position in W&T Offshore, Inc. (NYSE:WTI) by 160.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 311,497 shares of the oil and gas company’s stock after acquiring an additional 192,088 shares during the quarter. Aristeia Capital L.L.C. owned approximately 0.21% of W&T Offshore worth $667,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Sanders Morris Harris LLC acquired a new stake in W&T Offshore in the 1st quarter valued at about $26,000. CCG Wealth Management LLC bought a new position in shares of W&T Offshore during the 2nd quarter worth approximately $26,000. Norden Group LLC acquired a new position in shares of W&T Offshore during the 1st quarter worth approximately $29,000. Caprock Group LLC bought a new stake in W&T Offshore in the 2nd quarter valued at $34,000. Finally, Paloma Partners Management Co acquired a new stake in W&T Offshore during the 1st quarter valued at $36,000. Institutional investors own 42.88% of the company’s stock.

W&T Offshore Stock Up 0.5 %

WTI opened at $2.09 on Tuesday. The stock has a fifty day moving average of $2.23 and a 200-day moving average of $2.31. The company has a market capitalization of $306.93 million, a P/E ratio of -13.93 and a beta of 1.40. W&T Offshore, Inc. has a fifty-two week low of $1.92 and a fifty-two week high of $4.47. The company has a debt-to-equity ratio of 75.32, a quick ratio of 1.06 and a current ratio of 1.06.

W&T Offshore (NYSE:WTI) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. The business had revenue of $142.70 million for the quarter, compared to analyst estimates of $148.05 million. During the same quarter in the previous year, the company earned ($0.08) EPS. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities analysts expect that W&T Offshore, Inc. will post -0.35 EPS for the current year.

W&T Offshore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Tuesday, August 20th. W&T Offshore’s payout ratio is currently -26.67%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of W&T Offshore from a “hold” rating to a “sell” rating in a report on Thursday, September 19th.

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.