Bank of New York Mellon Corp Boosts Stake in W&T Offshore, Inc. (NYSE:WTI)

Bank of New York Mellon Corp boosted its holdings in W&T Offshore, Inc. (NYSE:WTI - Free Report) by 41.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,262,488 shares of the oil and gas company's stock after buying an additional 368,803 shares during the quarter. Bank of New York Mellon Corp owned 0.86% of W&T Offshore worth $2,096,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WTI. Geode Capital Management LLC increased its stake in shares of W&T Offshore by 2.5% in the 3rd 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 stake in shares of 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 buying an additional 107,045 shares during the period. FMR LLC lifted its position in shares of W&T Offshore by 72.1% during the 3rd quarter. FMR LLC now owns 37,846 shares of the oil and gas company's stock valued at $81,000 after buying an additional 15,852 shares in the last quarter. R Squared Ltd bought a new position in shares of W&T Offshore during the 4th quarter valued at approximately $54,000. Finally, BNP Paribas Financial Markets increased its holdings in W&T Offshore by 307.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 138,029 shares of the oil and gas company's stock worth $297,000 after acquiring an additional 104,156 shares in the last quarter. Institutional investors own 42.88% of the company's stock.

W&T Offshore Trading Down 0.9 %

Shares of NYSE:WTI traded down $0.02 during trading hours on Tuesday, hitting $1.63. 543,739 shares of the company's stock traded hands, compared to its average volume of 1,742,537. The firm has a market capitalization of $239.91 million, a P/E ratio of -3.78 and a beta of 1.14. The business has a fifty day moving average price of $1.65 and a 200-day moving average price of $1.86. W&T Offshore, Inc. has a 1 year low of $1.30 and a 1 year high of $2.84. The company has a debt-to-equity ratio of 75.32, a current ratio of 0.98 and a quick ratio of 0.98.

W&T Offshore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Monday, March 17th. W&T Offshore's payout ratio is -6.78%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut W&T Offshore from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th.

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.