Carmel Capital Partners LLC Cuts Position in W&T Offshore, Inc. (NYSE:WTI)

Carmel Capital Partners LLC lessened its position in shares of W&T Offshore, Inc. (NYSE:WTI) by 60.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,000 shares of the oil and gas company’s stock after selling 85,000 shares during the quarter. Carmel Capital Partners LLC’s holdings in W&T Offshore were worth $91,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of W&T Offshore by 72.1% in the 3rd quarter. FMR LLC now owns 37,846 shares of the oil and gas company’s stock valued at $81,000 after purchasing an additional 15,852 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of W&T Offshore in the 4th quarter valued at approximately $32,000. US Bancorp DE bought a new stake in shares of W&T Offshore in the 4th quarter valued at approximately $33,000. Intech Investment Management LLC bought a new stake in shares of W&T Offshore in the 3rd quarter valued at approximately $64,000. Finally, R Squared Ltd bought a new stake in shares of W&T Offshore in the 4th quarter valued at approximately $54,000. Hedge funds and other institutional investors own 42.88% of the company’s stock.

W&T Offshore Price Performance

Shares of WTI stock opened at $1.49 on Thursday. W&T Offshore, Inc. has a 52-week low of $1.30 and a 52-week high of $2.84. The company has a debt-to-equity ratio of 75.32, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $218.83 million, a P/E ratio of -3.45 and a beta of 1.32. The stock has a 50 day moving average price of $1.69 and a 200 day moving average price of $1.93.

W&T Offshore Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Monday, March 17th. W&T Offshore’s dividend payout ratio (DPR) is presently -9.30%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered W&T Offshore from a “hold” rating to a “sell” rating in a research note on Wednesday.

About W&T Offshore

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.