W&T Offshore, Inc. (NYSE:WTI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of W&T Offshore, Inc. (NYSE:WTI) by 7.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,171,194 shares of the oil and gas company’s stock after selling 91,294 shares during the quarter. Bank of New York Mellon Corp owned 0.79% of W&T Offshore worth $1,815,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of W&T Offshore by 24.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,829 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 7,776 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of W&T Offshore by 39.9% in the 4th quarter. Wells Fargo & Company MN now owns 46,419 shares of the oil and gas company’s stock worth $77,000 after acquiring an additional 13,237 shares in the last quarter. Barclays PLC grew its position in shares of W&T Offshore by 11.0% in the 4th quarter. Barclays PLC now owns 156,226 shares of the oil and gas company’s stock worth $259,000 after acquiring an additional 15,445 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of W&T Offshore in the 4th quarter worth approximately $32,000. Finally, XTX Topco Ltd grew its position in shares of W&T Offshore by 27.4% in the 4th quarter. XTX Topco Ltd now owns 89,901 shares of the oil and gas company’s stock worth $149,000 after acquiring an additional 19,311 shares in the last quarter. Institutional investors own 42.88% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered W&T Offshore from a “hold” rating to a “sell” rating in a research report on Sunday, June 22nd.

W&T Offshore Trading Up 1.9%

Shares of WTI opened at $1.87 on Wednesday. The firm has a market cap of $275.37 million, a price-to-earnings ratio of -2.59 and a beta of 0.68. W&T Offshore, Inc. has a 52 week low of $1.09 and a 52 week high of $2.84. The stock has a 50 day moving average of $1.75 and a 200-day moving average of $1.58.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.01. The company had revenue of $129.87 million during the quarter, compared to the consensus estimate of $123.91 million. On average, sell-side analysts predict that W&T Offshore, Inc. will post -0.45 earnings per share for the current fiscal year.

W&T Offshore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 20th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Tuesday, May 20th. W&T Offshore’s dividend payout ratio (DPR) is -5.56%.

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.