Octavia Wealth Advisors LLC Boosts Holdings in W&T Offshore, Inc. (NYSE:WTI)

Octavia Wealth Advisors LLC increased its holdings in W&T Offshore, Inc. (NYSE:WTI) by 51.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,315 shares of the oil and gas company’s stock after purchasing an additional 6,215 shares during the period. Octavia Wealth Advisors LLC’s holdings in W&T Offshore were worth $60,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of W&T Offshore by 22.2% during the 1st quarter. JPMorgan Chase & Co. now owns 360,109 shares of the oil and gas company’s stock worth $1,376,000 after acquiring an additional 65,403 shares in the last quarter. Citigroup Inc. raised its holdings in shares of W&T Offshore by 571.2% during the 1st quarter. Citigroup Inc. now owns 164,061 shares of the oil and gas company’s stock worth $626,000 after acquiring an additional 139,619 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of W&T Offshore by 318.6% during the 1st quarter. MetLife Investment Management LLC now owns 41,518 shares of the oil and gas company’s stock worth $159,000 after acquiring an additional 31,600 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of W&T Offshore by 3.7% during the 1st quarter. Panagora Asset Management Inc. now owns 391,287 shares of the oil and gas company’s stock worth $1,495,000 after acquiring an additional 13,957 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of W&T Offshore by 11.3% during the 1st quarter. Rhumbline Advisers now owns 171,414 shares of the oil and gas company’s stock worth $655,000 after acquiring an additional 17,462 shares in the last quarter. 42.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Stifel Nicolaus upped their price objective on W&T Offshore from $7.60 to $7.90 and gave the stock a “buy” rating in a report on Tuesday, January 23rd.

W&T Offshore Stock Performance

NYSE WTI opened at $2.41 on Thursday. The company has a market cap of $353.93 million, a P/E ratio of 24.10 and a beta of 1.52. The company has a debt-to-equity ratio of 11.58, a quick ratio of 1.22 and a current ratio of 1.22. The business’s 50 day moving average price is $2.74 and its 200-day moving average price is $3.21. W&T Offshore, Inc. has a fifty-two week low of $2.41 and a fifty-two week high of $4.92.

W&T Offshore (NYSE:WTI) last released its earnings results on Tuesday, March 5th. The oil and gas company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.08). The company had revenue of $132.30 million for the quarter, compared to the consensus estimate of $138.23 million. W&T Offshore had a net margin of 2.93% and a negative return on equity of 71.70%. The business’s revenue for the quarter was down 30.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. Sell-side analysts predict that W&T Offshore, Inc. will post -0.05 earnings per share for the current year.

W&T Offshore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 18th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, March 15th. W&T Offshore’s dividend payout ratio is currently 40.00%.

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.