Millennium Management LLC Boosts Stock Holdings in W&T Offshore, Inc. (NYSE:WTI)

Millennium Management LLC raised its position in shares of W&T Offshore, Inc. (NYSE:WTI - Free Report) by 31.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,472,996 shares of the oil and gas company's stock after acquiring an additional 588,106 shares during the period. Millennium Management LLC owned approximately 1.68% of W&T Offshore worth $4,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the business. Exchange Traded Concepts LLC grew its holdings in W&T Offshore by 34.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 197,384 shares of the oil and gas company's stock valued at $328,000 after purchasing an additional 50,639 shares during the last quarter. R Squared Ltd acquired a new position in W&T Offshore in the 4th quarter worth approximately $54,000. Bank of New York Mellon Corp lifted its holdings in shares of W&T Offshore by 41.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,262,488 shares of the oil and gas company's stock valued at $2,096,000 after buying an additional 368,803 shares during the period. US Bancorp DE purchased a new stake in W&T Offshore during the fourth quarter worth $33,000. Finally, Raymond James Financial Inc. acquired a new stake in W&T Offshore in the fourth quarter valued at approximately $32,000. Institutional investors own 42.88% of the company's stock.

W&T Offshore Stock Up 4.5%

WTI traded up $0.07 during trading hours on Tuesday, hitting $1.64. 583,316 shares of the company's stock were exchanged, compared to its average volume of 1,665,835. The firm has a 50 day moving average of $1.32 and a 200 day moving average of $1.56. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 75.32. W&T Offshore, Inc. has a 12-month low of $1.09 and a 12-month high of $2.84. The firm has a market cap of $242.15 million, a P/E ratio of -3.81 and a beta of 0.53.

W&T Offshore (NYSE:WTI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.01. W&T Offshore had a negative net margin of 11.95% and a negative return on equity of 775.16%. The firm had revenue of $129.87 million during the quarter, compared to analysts' expectations of $123.91 million. Analysts predict that W&T Offshore, Inc. will post -0.45 EPS for the current fiscal year.

W&T Offshore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 20th were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.44%. W&T Offshore's dividend payout ratio is presently -5.56%.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded W&T Offshore from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th.

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.