Morgan Dempsey Capital Management LLC Boosts Holdings in W&T Offshore, Inc. (NYSE:WTI)

Morgan Dempsey Capital Management LLC lifted its position in shares of W&T Offshore, Inc. (NYSE:WTI) by 83.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,393 shares of the oil and gas company’s stock after purchasing an additional 18,810 shares during the quarter. Morgan Dempsey Capital Management LLC’s holdings in W&T Offshore were worth $89,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. New York State Common Retirement Fund lifted its holdings in shares of W&T Offshore by 36.9% in the 4th quarter. New York State Common Retirement Fund now owns 160,843 shares of the oil and gas company’s stock worth $524,000 after acquiring an additional 43,376 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in W&T Offshore by 232.2% in the fourth quarter. Russell Investments Group Ltd. now owns 850,255 shares of the oil and gas company’s stock valued at $2,772,000 after buying an additional 594,333 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in W&T Offshore in the 4th quarter valued at about $263,000. BNP Paribas Financial Markets raised its holdings in shares of W&T Offshore by 81.2% in the fourth quarter. BNP Paribas Financial Markets now owns 262,124 shares of the oil and gas company’s stock worth $855,000 after acquiring an additional 117,462 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in W&T Offshore during the fourth quarter worth approximately $758,000. Institutional investors and hedge funds own 42.88% of the company’s stock.

W&T Offshore Price Performance

NYSE WTI traded down $0.02 on Friday, reaching $2.02. The company’s stock had a trading volume of 1,105,545 shares, compared to its average volume of 2,127,701. The company has a debt-to-equity ratio of 75.32, a quick ratio of 1.06 and a current ratio of 1.06. W&T Offshore, Inc. has a twelve month low of $1.98 and a twelve month high of $4.47. The stock has a market cap of $296.65 million, a PE ratio of -13.47 and a beta of 1.40. The firm’s 50 day moving average is $2.28 and its two-hundred day moving average is $2.38.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $142.70 million for the quarter, compared to analyst estimates 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 business’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, sell-side analysts predict that W&T Offshore, Inc. will post -0.34 EPS for the current year.

W&T Offshore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Tuesday, August 20th. W&T Offshore’s payout ratio is -26.67%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of W&T Offshore from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd.

W&T Offshore 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.