Bank of New York Mellon Corp Increases Stake in W&T Offshore, Inc. (WTI)

Bank of New York Mellon Corp increased its holdings in W&T Offshore, Inc. (NYSE:WTI) by 17.5% in the third quarter, HoldingsChannel reports. The firm owned 419,547 shares of the oil and gas company’s stock after acquiring an additional 62,576 shares during the period. Bank of New York Mellon Corp’s holdings in W&T Offshore were worth $1,280,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. First Quadrant L P CA purchased a new stake in shares of W&T Offshore in the 3rd quarter valued at $961,000. Northern Trust Corp boosted its stake in shares of W&T Offshore by 25.7% in the 2nd quarter. Northern Trust Corp now owns 485,235 shares of the oil and gas company’s stock valued at $951,000 after purchasing an additional 99,137 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of W&T Offshore by 717.6% in the 2nd quarter. Nationwide Fund Advisors now owns 488,403 shares of the oil and gas company’s stock valued at $957,000 after purchasing an additional 428,668 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of W&T Offshore by 98.8% in the 2nd quarter. Teachers Advisors LLC now owns 174,348 shares of the oil and gas company’s stock valued at $342,000 after purchasing an additional 86,667 shares in the last quarter. Finally, Chicago Equity Partners LLC boosted its stake in shares of W&T Offshore by 13.2% in the 3rd quarter. Chicago Equity Partners LLC now owns 1,522,425 shares of the oil and gas company’s stock valued at $4,643,000 after purchasing an additional 177,181 shares in the last quarter. 47.98% of the stock is owned by institutional investors.

Shares of W&T Offshore, Inc. (NYSE:WTI) opened at $4.36 on Thursday. The firm has a market cap of $600.90, a price-to-earnings ratio of 8.23 and a beta of 2.49. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of -1.65. W&T Offshore, Inc. has a 12-month low of $1.81 and a 12-month high of $4.49.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. The business had revenue of $110.30 million during the quarter, compared to analysts’ expectations of $119.50 million. W&T Offshore had a net margin of 15.38% and a negative return on equity of 10.86%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.24) EPS. equities research analysts expect that W&T Offshore, Inc. will post 0.48 earnings per share for the current fiscal year.

In other W&T Offshore news, insider John D. Gibbons sold 29,000 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $2.79, for a total transaction of $80,910.00. Following the completion of the sale, the insider now owns 476,030 shares of the company’s stock, valued at approximately $1,328,123.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Stephen L. Schroeder sold 18,762 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $2.81, for a total transaction of $52,721.22. Following the completion of the transaction, the senior vice president now owns 366,592 shares of the company’s stock, valued at $1,030,123.52. The disclosure for this sale can be found here. Corporate insiders own 32.58% of the company’s stock.

WTI has been the subject of a number of research reports. Zacks Investment Research cut shares of W&T Offshore from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Capital One Financial cut shares of W&T Offshore from an “equal weight” rating to an “underweight” rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company currently has an average rating of “Sell” and an average target price of $2.50.

TRADEMARK VIOLATION WARNING: This story was published by Community Financial News and is owned by of Community Financial News. If you are reading this story on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The correct version of this story can be accessed at https://www.com-unik.info/2018/01/11/bank-of-new-york-mellon-corp-increases-stake-in-wt-offshore-inc-wti.html.

W&T Offshore Profile

W&T Offshore, Inc is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico. As of December 31, 2016, the Company had interests in offshore leases covering approximately 750,000 gross acres (450,000 net acres) spanning across the Outer Continental Shelf (OCS) off the coasts of Louisiana, Texas, Mississippi and Alabama.

Want to see what other hedge funds are holding WTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for W&T Offshore, Inc. (NYSE:WTI).

Institutional Ownership by Quarter for W&T Offshore (NYSE:WTI)

Receive News & Ratings for W&T Offshore Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W&T Offshore and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit