Inspire Advisors LLC Invests $182,000 in W&T Offshore, Inc. (NYSE:WTI)

Inspire Advisors LLC acquired a new position in shares of W&T Offshore, Inc. (NYSE:WTI) in the 4th quarter, Holdings Channel reports. The fund acquired 109,681 shares of the oil and gas company’s stock, valued at approximately $182,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of W&T Offshore by 2.5% during the third quarter. Geode Capital Management LLC now owns 2,146,569 shares of the oil and gas company’s stock worth $4,616,000 after purchasing an additional 52,186 shares in the last quarter. Barclays PLC raised its holdings in W&T Offshore by 317.3% in the third quarter. Barclays PLC now owns 140,781 shares of the oil and gas company’s stock worth $303,000 after purchasing an additional 107,045 shares in the last quarter. FMR LLC raised its holdings in W&T Offshore by 72.1% in the third quarter. FMR LLC now owns 37,846 shares of the oil and gas company’s stock worth $81,000 after purchasing an additional 15,852 shares in the last quarter. R Squared Ltd bought a new position in shares of W&T Offshore during the fourth quarter valued at $54,000. Finally, BNP Paribas Financial Markets boosted its position in shares of W&T Offshore by 307.5% during the third quarter. BNP Paribas Financial Markets now owns 138,029 shares of the oil and gas company’s stock valued at $297,000 after buying an additional 104,156 shares during the last quarter. Hedge funds and other institutional investors own 42.88% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded W&T Offshore from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th.

W&T Offshore Stock Up 2.4 %

Shares of WTI opened at $1.50 on Thursday. 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 stock has a market capitalization of $220.72 million, a price-to-earnings ratio of -3.48 and a beta of 1.14. W&T Offshore, Inc. has a 1 year low of $1.30 and a 1 year high of $2.84. The business’s 50 day simple moving average is $1.67 and its 200-day simple moving average is $1.90.

W&T Offshore Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Monday, March 17th. W&T Offshore’s dividend payout ratio is currently -6.78%.

W&T Offshore Company Profile

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.