Bank of America Corp DE increased its holdings in shares of W&T Offshore, Inc. (NYSE:WTI - Free Report) by 137.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,893 shares of the oil and gas company's stock after purchasing an additional 142,899 shares during the period. Bank of America Corp DE owned approximately 0.17% of W&T Offshore worth $410,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of WTI. Raymond James Financial Inc. acquired a new stake in W&T Offshore during the 4th quarter worth approximately $32,000. US Bancorp DE bought a new stake in shares of W&T Offshore during the fourth quarter worth $33,000. Boothbay Fund Management LLC acquired a new stake in shares of W&T Offshore during the fourth quarter worth $41,000. RPO LLC bought a new stake in W&T Offshore in the 4th quarter valued at $55,000. Finally, Virtu Financial LLC bought a new stake in W&T Offshore in the 4th quarter valued at $66,000. 42.88% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen cut W&T Offshore from a "hold" rating to a "sell" rating in a report on Saturday, May 24th.
Get Our Latest Report on WTI
W&T Offshore Stock Up 10.6%
Shares of WTI stock traded up $0.21 on Friday, hitting $2.15. 7,736,672 shares of the stock were exchanged, compared to its average volume of 1,692,933. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 75.32. The firm has a market capitalization of $316.71 million, a P/E ratio of -4.99 and a beta of 0.65. W&T Offshore, Inc. has a fifty-two week low of $1.09 and a fifty-two week high of $2.84. The business has a 50-day moving average of $1.36 and a 200 day moving average of $1.55.
W&T Offshore (NYSE:WTI - Get Free Report) last released its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.13) EPS for the quarter, beating the consensus estimate 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. Equities analysts anticipate that W&T Offshore, Inc. will post -0.45 EPS for the current year.
W&T Offshore Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 20th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Tuesday, May 20th. W&T Offshore's dividend payout ratio is presently -5.56%.
W&T Offshore Profile
(
Free Report)
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.
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