StockNews.com Lowers W&T Offshore (NYSE:WTI) to Sell

StockNews.com downgraded shares of W&T Offshore (NYSE:WTI) from a hold rating to a sell rating in a research report released on Tuesday morning.

W&T Offshore Price Performance

Shares of NYSE WTI opened at $2.02 on Tuesday. The business’s 50 day moving average is $2.28 and its 200-day moving average is $2.39. The firm has a market cap of $296.66 million, a P/E ratio of -13.47 and a beta of 1.40. W&T Offshore has a 1-year low of $1.98 and a 1-year high of $4.47. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 75.32.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The company had revenue of $142.70 million for the quarter, compared to analyst estimates of $148.05 million. W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) EPS. Equities research analysts predict that W&T Offshore will post -0.34 earnings per share for the current year.

W&T Offshore Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Tuesday, August 20th. W&T Offshore’s dividend payout ratio is -26.66%.

Institutional Trading of W&T Offshore

Hedge funds and other institutional investors have recently modified their holdings of the stock. Huber Capital Management LLC boosted its holdings in shares of W&T Offshore by 23.0% during the 1st quarter. Huber Capital Management LLC now owns 4,032,480 shares of the oil and gas company’s stock valued at $10,686,000 after acquiring an additional 753,237 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of W&T Offshore during the first quarter valued at about $1,652,000. Russell Investments Group Ltd. grew its holdings in shares of W&T Offshore by 232.2% during the fourth quarter. Russell Investments Group Ltd. now owns 850,255 shares of the oil and gas company’s stock worth $2,772,000 after purchasing an additional 594,333 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of W&T Offshore by 197.3% in the second quarter. Squarepoint Ops LLC now owns 413,139 shares of the oil and gas company’s stock valued at $884,000 after buying an additional 274,156 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in W&T Offshore by 174.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 397,451 shares of the oil and gas company’s stock valued at $1,053,000 after buying an additional 252,394 shares during the last quarter. Institutional investors own 42.88% of the company’s stock.

W&T Offshore Company Profile

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.