Bank of New York Mellon Corp Has $2.16 Million Stock Position in W&T Offshore, Inc. (NYSE:WTI)

Bank of New York Mellon Corp boosted its holdings in shares of W&T Offshore, Inc. (NYSE:WTI) by 5.2% in the second quarter, HoldingsChannel reports. The fund owned 1,009,865 shares of the oil and gas company’s stock after buying an additional 50,094 shares during the quarter. Bank of New York Mellon Corp’s holdings in W&T Offshore were worth $2,161,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of WTI. Huber Capital Management LLC raised its stake in shares of W&T Offshore by 23.0% during the 1st quarter. Huber Capital Management LLC now owns 4,032,480 shares of the oil and gas company’s stock worth $10,686,000 after purchasing an additional 753,237 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of W&T Offshore in the 1st quarter valued at approximately $1,652,000. Russell Investments Group Ltd. lifted its holdings in W&T Offshore by 33.6% in the 1st quarter. Russell Investments Group Ltd. now owns 1,135,748 shares of the oil and gas company’s stock worth $3,010,000 after purchasing an additional 285,493 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in W&T Offshore by 174.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 397,451 shares of the oil and gas company’s stock worth $1,053,000 after purchasing an additional 252,394 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in W&T Offshore in the 1st quarter worth approximately $629,000. 42.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com upgraded W&T Offshore from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th.

W&T Offshore Stock Up 3.9 %

Shares of WTI stock opened at $2.12 on Wednesday. W&T Offshore, Inc. has a 12 month low of $1.92 and a 12 month high of $4.47. The firm has a market cap of $311.34 million, a PE ratio of -13.87 and a beta of 1.40. The stock has a 50 day moving average of $2.25 and a 200-day moving average of $2.33. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 75.32.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The business 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 firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) earnings per share. On average, equities analysts predict that W&T Offshore, Inc. will post -0.34 EPS for the current year.

W&T Offshore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Tuesday, August 20th. W&T Offshore’s dividend payout ratio is presently -26.67%.

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.