California State Teachers Retirement System Sells 5,311 Shares of W&T Offshore, Inc. (NYSE:WTI)

California State Teachers Retirement System lessened its position in W&T Offshore, Inc. (NYSE:WTI) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 102,072 shares of the oil and gas company’s stock after selling 5,311 shares during the quarter. California State Teachers Retirement System owned approximately 0.07% of W&T Offshore worth $270,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Sanders Morris Harris LLC purchased a new position in W&T Offshore during the first quarter valued at $26,000. Signaturefd LLC increased its stake in shares of W&T Offshore by 907.2% in the 4th quarter. Signaturefd LLC now owns 8,390 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 7,557 shares in the last quarter. Norden Group LLC bought a new position in shares of W&T Offshore in the 1st quarter worth about $29,000. Paloma Partners Management Co purchased a new position in W&T Offshore during the 1st quarter valued at about $36,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in W&T Offshore during the first quarter worth about $42,000. 42.88% of the stock is currently owned by institutional investors.

W&T Offshore Price Performance

Shares of NYSE:WTI opened at $2.25 on Monday. The business has a fifty day moving average price of $2.24 and a 200-day moving average price of $2.45. 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 $330.43 million, a PE ratio of -15.00 and a beta of 1.40. W&T Offshore, Inc. has a 1-year low of $1.99 and a 1-year high of $4.51.

W&T Offshore (NYSE:WTI) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The firm had revenue of $142.70 million for the quarter, compared to the consensus estimate of $148.05 million. W&T Offshore had a negative net margin of 4.51% and a negative return on equity of 103.71%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.08) earnings per share. As a group, equities analysts expect that W&T Offshore, Inc. will post -0.17 EPS for the current fiscal year.

W&T Offshore Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.04 dividend on an annualized basis and a yield of 1.78%. W&T Offshore’s payout ratio is currently -26.67%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WTI. Stifel Nicolaus raised their target price on shares of W&T Offshore from $7.50 to $7.80 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. StockNews.com upgraded W&T Offshore from a “sell” rating to a “hold” rating in a research note on Thursday.

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.