Millennium Management LLC Cuts Position in W&T Offshore, Inc. (NYSE:WTI)

Millennium Management LLC lessened its position in W&T Offshore, Inc. (NYSE:WTI) by 16.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,908,488 shares of the oil and gas company’s stock after selling 592,427 shares during the quarter. Millennium Management LLC’s holdings in W&T Offshore were worth $6,224,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of WTI. GSA Capital Partners LLP purchased a new position in W&T Offshore in the first quarter valued at approximately $1,652,000. Jacobs Levy Equity Management Inc. boosted its position in W&T Offshore by 174.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 397,451 shares of the oil and gas company’s stock worth $1,053,000 after acquiring an additional 252,394 shares during the last quarter. Russell Investments Group Ltd. raised its stake in W&T Offshore by 33.6% during the first quarter. Russell Investments Group Ltd. now owns 1,135,748 shares of the oil and gas company’s stock worth $3,010,000 after purchasing an additional 285,493 shares during the period. Squarepoint Ops LLC increased its position in W&T Offshore by 197.3% during the 2nd quarter. Squarepoint Ops LLC now owns 413,139 shares of the oil and gas company’s stock worth $884,000 after purchasing an additional 274,156 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of W&T Offshore during the first quarter worth about $629,000. Institutional investors and hedge funds own 42.88% of the company’s stock.

W&T Offshore Stock Down 1.1 %

WTI opened at $2.24 on Friday. The company has a debt-to-equity ratio of 75.32, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $328.23 million, a PE ratio of -14.90 and a beta of 1.39. The business has a 50-day moving average of $2.21 and a 200-day moving average of $2.29. W&T Offshore, Inc. has a fifty-two week low of $1.92 and a fifty-two week high of $4.32.

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

W&T Offshore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Tuesday, August 20th. W&T Offshore’s payout ratio is -26.66%.

Analyst Upgrades and Downgrades

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

W&T Offshore Company 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.