1,140,172 Shares in W&T Offshore, Inc. $WTI Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 1,140,172 W&T Offshore shares in the second quarter, valued at approximately $3.6 million and representing 0.77% of the company. Institutional investors collectively own 42.88% of W&T Offshore.
• Analyst sentiment is mixed, with one Buy, one Hold, and one Sell rating; the consensus is Hold with an average price target of $4.25. W&T Offshore shares recently opened at $3.82, within a 52-week range of $1.50 to $5.08.
• The company reported quarterly EPS of $0.02, below the $0.04 consensus estimate, while revenue of $162.62 million exceeded expectations. W&T Offshore also maintains a quarterly dividend of $0.01 per share, or $0.04 annualized.

Bank of New York Mellon Corp purchased a new stake in W&T Offshore, Inc. (NYSE:WTI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,140,172 shares of the oil and gas company's stock, valued at approximately $3,592,000. Bank of New York Mellon Corp owned 0.77% of W&T Offshore at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. lifted its stake in shares of W&T Offshore by 1.4% in the fourth quarter. Invesco Ltd. now owns 312,081 shares of the oil and gas company's stock valued at $509,000 after buying an additional 4,241 shares in the last quarter. Graham Capital Management L.P. grew its holdings in shares of W&T Offshore by 7.6% during the fourth quarter. Graham Capital Management L.P. now owns 87,530 shares of the oil and gas company's stock valued at $143,000 after buying an additional 6,195 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of W&T Offshore by 21.7% during the third quarter. NewEdge Advisors LLC now owns 36,610 shares of the oil and gas company's stock worth $67,000 after acquiring an additional 6,524 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of W&T Offshore by 42.7% during the second quarter. Raymond James Financial Inc. now owns 21,957 shares of the oil and gas company's stock worth $36,000 after acquiring an additional 6,569 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of W&T Offshore by 3.0% during the third quarter. Alliancebernstein L.P. now owns 283,774 shares of the oil and gas company's stock worth $516,000 after acquiring an additional 8,200 shares in the last quarter. Institutional investors own 42.88% of the company's stock.

Analysts Set New Price Targets

WTI has been the topic of several recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of W&T Offshore in a research report on Friday, July 17th. Roth Capital set a $4.25 price objective on W&T Offshore in a report on Tuesday, July 21st. Finally, Wall Street Zen downgraded W&T Offshore from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, W&T Offshore has a consensus rating of "Hold" and an average price target of $4.25.

W&T Offshore Price Performance

WTI opened at $3.82 on Monday. W&T Offshore, Inc. has a 1 year low of $1.50 and a 1 year high of $5.08. The company has a market capitalization of $576.59 million, a price-to-earnings ratio of -5.23 and a beta of 0.28. The firm's fifty day moving average price is $3.55 and its two-hundred day moving average price is $3.48.

W&T Offshore (NYSE:WTI - Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $162.62 million for the quarter, compared to the consensus estimate of $157.46 million. As a group, equities analysts anticipate that W&T Offshore, Inc. will post -0.09 EPS for the current year.

W&T Offshore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 19th were paid a $0.01 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.04 annualized dividend and a yield of 1.0%. W&T Offshore's dividend payout ratio (DPR) is -5.48%.

W&T Offshore Profile

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.

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