HighTower Advisors LLC Decreases Stock Position in W&T Offshore, Inc. (NYSE:WTI)

HighTower Advisors LLC trimmed its position in shares of W&T Offshore, Inc. (NYSE:WTI) by 21.9% in the 3rd quarter, Holdings Channel reports. The firm owned 33,420 shares of the oil and gas company’s stock after selling 9,380 shares during the period. HighTower Advisors LLC’s holdings in W&T Offshore were worth $72,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WTI. Huber Capital Management LLC boosted its stake in W&T Offshore by 18.1% during the 2nd quarter. Huber Capital Management LLC now owns 4,763,734 shares of the oil and gas company’s stock worth $10,194,000 after purchasing an additional 731,254 shares during the last quarter. Squarepoint Ops LLC grew its stake 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 valued at $884,000 after acquiring an additional 274,156 shares in the last quarter. Aristeia Capital L.L.C. raised its holdings in W&T Offshore by 160.9% in the 2nd quarter. Aristeia Capital L.L.C. now owns 311,497 shares of the oil and gas company’s stock valued at $667,000 after acquiring an additional 192,088 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in W&T Offshore in the 3rd quarter worth approximately $316,000. Finally, Ballentine Partners LLC acquired a new position in shares of W&T Offshore during the 3rd quarter worth approximately $295,000. 42.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised W&T Offshore from a “sell” rating to a “hold” rating in a research note on Friday, December 13th.

W&T Offshore Price Performance

Shares of WTI stock opened at $1.57 on Friday. The company has a debt-to-equity ratio of 75.32, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $231.35 million, a PE ratio of -3.65 and a beta of 1.35. The firm’s 50-day moving average is $1.92 and its two-hundred day moving average is $2.12. W&T Offshore, Inc. has a 12 month low of $1.33 and a 12 month high of $3.44.

W&T Offshore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 21st were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Thursday, November 21st. W&T Offshore’s payout ratio is presently -9.30%.

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.