Bank of America Corp DE Acquires 142,899 Shares of W&T Offshore, Inc. (NYSE:WTI)

Bank of America Corp DE boosted its position in W&T Offshore, Inc. (NYSE:WTI - Free Report) by 137.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 246,893 shares of the oil and gas company's stock after acquiring an additional 142,899 shares during the period. Bank of America Corp DE owned 0.17% of W&T Offshore worth $410,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WTI. Bank of New York Mellon Corp boosted its holdings 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 valued at $2,096,000 after acquiring an additional 368,803 shares during the last quarter. US Bancorp DE bought a new position in W&T Offshore during the fourth quarter worth about $33,000. Raymond James Financial Inc. bought a new position in W&T Offshore during the fourth quarter worth about $32,000. Inspire Advisors LLC bought a new position in W&T Offshore during the fourth quarter worth about $182,000. Finally, Quantbot Technologies LP bought a new position in W&T Offshore during the fourth quarter worth about $111,000. Institutional investors own 42.88% of the company's stock.

W&T Offshore Trading Down 4.0%

WTI traded down $0.09 during midday trading on Monday, reaching $2.07. 5,733,181 shares of the company were exchanged, compared to its average volume of 1,708,835. The company has a debt-to-equity ratio of 75.32, a quick ratio of 0.98 and a current ratio of 0.98. W&T Offshore, Inc. has a one year low of $1.09 and a one year high of $2.84. The stock has a market capitalization of $304.90 million, a P/E ratio of -4.80 and a beta of 0.65. The stock's 50-day simple moving average is $1.40 and its 200 day simple moving average is $1.55.

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) earnings per share (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 analysts' expectations of $123.91 million. As a group, analysts forecast that W&T Offshore, Inc. will post -0.45 earnings per share 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. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Tuesday, May 20th. W&T Offshore's dividend payout ratio (DPR) is presently -5.56%.

Wall Street Analyst Weigh In

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

W&T Offshore 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.