Renaissance Technologies LLC Has $2.01 Million Holdings in W&T Offshore, Inc. $WTI

Renaissance Technologies LLC increased its holdings in W&T Offshore, Inc. (NYSE:WTI) by 158.5% in the first quarter, HoldingsChannel reports. The firm owned 590,300 shares of the oil and gas company’s stock after purchasing an additional 361,900 shares during the period. Renaissance Technologies LLC’s holdings in W&T Offshore were worth $2,013,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of WTI. StoneX Group Inc. bought a new position in W&T Offshore during the fourth quarter valued at about $28,000. Oxford Asset Management LLP bought a new stake in shares of W&T Offshore during the 2nd quarter worth about $29,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of W&T Offshore during the 3rd quarter worth about $32,000. Engineers Gate Manager LP acquired a new position in shares of W&T Offshore during the 4th quarter valued at about $32,000. Finally, Capricorn Fund Managers Ltd acquired a new position in shares of W&T Offshore during the 1st quarter valued at about $34,000. 42.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a research report on Friday, July 17th. Roth Capital set a $4.25 price target on shares of W&T Offshore in a research report on Tuesday, July 21st. Wall Street Zen cut shares of W&T Offshore from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Finally, William Blair began coverage on shares of W&T Offshore in a report on Friday, April 17th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.25.

W&T Offshore Price Performance

NYSE WTI opened at $3.81 on Wednesday. The firm has a market capitalization of $574.33 million, a price-to-earnings ratio of -5.21 and a beta of 0.24. The company’s fifty day moving average is $3.49 and its two-hundred day moving average is $3.29. W&T Offshore, Inc. has a 52-week low of $1.50 and a 52-week high of $5.08.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $162.62 million for the quarter, compared to analyst estimates of $157.46 million. As a group, sell-side analysts expect that W&T Offshore, Inc. will post -0.11 earnings per share for the current fiscal year.

W&T Offshore Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 19th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. W&T Offshore’s payout ratio is currently -5.48%.

W&T Offshore Company Profile

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.