Inspire Advisors LLC Acquires New Position in W&T Offshore, Inc. (NYSE:WTI)

Inspire Advisors LLC acquired a new stake in W&T Offshore, Inc. (NYSE:WTI) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 109,681 shares of the oil and gas company’s stock, valued at approximately $182,000. Inspire Advisors LLC owned 0.07% of W&T Offshore as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in W&T Offshore by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,146,569 shares of the oil and gas company’s stock valued at $4,616,000 after acquiring an additional 52,186 shares during the period. Bank of New York Mellon Corp raised its stake in W&T Offshore by 41.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,262,488 shares of the oil and gas company’s stock valued at $2,096,000 after acquiring an additional 368,803 shares during the period. Exchange Traded Concepts LLC raised its stake in W&T Offshore by 34.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 197,384 shares of the oil and gas company’s stock valued at $328,000 after acquiring an additional 50,639 shares during the period. Barclays PLC raised its stake in W&T Offshore by 317.3% in the 3rd quarter. Barclays PLC now owns 140,781 shares of the oil and gas company’s stock valued at $303,000 after acquiring an additional 107,045 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of W&T Offshore by 307.5% during the third quarter. BNP Paribas Financial Markets now owns 138,029 shares of the oil and gas company’s stock valued at $297,000 after buying an additional 104,156 shares during the period. 42.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut W&T Offshore from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th.

W&T Offshore Trading Up 2.4 %

Shares of WTI opened at $1.50 on Thursday. The business’s 50-day moving average price is $1.67 and its 200-day moving average price is $1.90. W&T Offshore, Inc. has a twelve month low of $1.30 and a twelve month high of $2.84. The stock has a market cap of $220.72 million, a PE ratio of -3.48 and a beta of 1.14. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 75.32.

W&T Offshore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Monday, March 17th. W&T Offshore’s dividend payout ratio is presently -6.78%.

W&T Offshore Company Profile

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.