W&T Offshore (NYSE:WTI) Downgraded by StockNews.com

W&T Offshore (NYSE:WTI) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Separately, Stifel Nicolaus lifted their price target on W&T Offshore from $7.50 to $7.80 and gave the company a “buy” rating in a research note on Tuesday, April 23rd.

W&T Offshore Stock Performance

Shares of WTI stock traded up $0.09 during midday trading on Wednesday, hitting $2.20. The company had a trading volume of 3,624,570 shares, compared to its average volume of 2,270,855. The company’s 50 day simple moving average is $2.23 and its 200 day simple moving average is $2.50. W&T Offshore has a 52-week low of $1.99 and a 52-week high of $4.51. The stock has a market cap of $323.09 million, a price-to-earnings ratio of -14.67 and a beta of 1.40. The company has a debt-to-equity ratio of 18.51, a current ratio of 1.08 and a quick ratio of 1.08.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). W&T Offshore had a negative net margin of 4.04% and a negative return on equity of 100.74%. The business had revenue of $142.70 million during the quarter, compared to analysts’ expectations of $148.05 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. Research analysts anticipate that W&T Offshore will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of W&T Offshore

Institutional investors have recently bought and sold shares of the company. Signaturefd LLC boosted its position in W&T Offshore by 907.2% during the fourth quarter. Signaturefd LLC now owns 8,390 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 7,557 shares in the last quarter. Sanders Morris Harris LLC acquired a new position in shares of W&T Offshore in the first quarter worth $26,000. Norden Group LLC acquired a new position in shares of W&T Offshore in the first quarter worth $29,000. CCG Wealth Management LLC acquired a new position in shares of W&T Offshore in the second quarter worth $26,000. Finally, Paloma Partners Management Co acquired a new position in shares of W&T Offshore in the first quarter worth $36,000. 42.88% of the stock is currently owned by hedge funds and other institutional investors.

About W&T Offshore

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.