Ameriprise Financial Inc. Grows Stock Holdings in W&T Offshore, Inc. (NYSE:WTI)

Ameriprise Financial Inc. boosted its stake in W&T Offshore, Inc. (NYSE:WTI - Free Report) by 427.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,831,604 shares of the oil and gas company's stock after buying an additional 3,104,484 shares during the quarter. Ameriprise Financial Inc. owned approximately 2.60% of W&T Offshore worth $6,360,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WTI. Exchange Traded Concepts LLC boosted its position in shares of 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 acquiring an additional 50,639 shares during the last quarter. R Squared Ltd purchased a new position in shares of W&T Offshore during the fourth quarter valued at approximately $54,000. Bank of New York Mellon Corp grew its stake in W&T Offshore by 41.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,262,488 shares of the oil and gas company's stock worth $2,096,000 after purchasing an additional 368,803 shares during the period. US Bancorp DE purchased a new stake in W&T Offshore in the fourth quarter worth $33,000. Finally, Raymond James Financial Inc. purchased a new stake in W&T Offshore in the fourth quarter worth $32,000. 42.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

W&T Offshore Stock Up 1.7%

NYSE WTI traded up $0.03 on Wednesday, reaching $1.48. 587,126 shares of the stock traded hands, compared to its average volume of 1,691,483. The company has a debt-to-equity ratio of 75.32, a quick ratio of 0.98 and a current ratio of 0.98. The company has a fifty day moving average price of $1.33 and a 200-day moving average price of $1.58. The company has a market cap of $217.79 million, a price-to-earnings ratio of -3.43 and a beta of 0.53. W&T Offshore, Inc. has a 12 month low of $1.09 and a 12 month high of $2.84.

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

W&T Offshore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 20th were given a $0.01 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.04 annualized dividend and a yield of 2.71%. W&T Offshore's payout ratio is -5.56%.

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.