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

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

W&T Offshore Stock Performance

Shares of W&T Offshore stock opened at $2.08 on Thursday. The firm has a market capitalization of $305.46 million, a P/E ratio of -13.87 and a beta of 1.40. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 75.32. W&T Offshore has a 52 week low of $1.92 and a 52 week high of $4.47. The firm’s 50 day moving average is $2.23 and its two-hundred day moving average is $2.31.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. The company had revenue of $142.70 million for the quarter, compared to analyst estimates of $148.05 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. W&T Offshore’s revenue was up 13.1% compared to the same quarter last year. Research analysts forecast that W&T Offshore will post -0.35 EPS for the current fiscal year.

W&T Offshore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.04 dividend on an annualized basis and a yield of 1.92%. W&T Offshore’s dividend payout ratio is presently -26.67%.

Hedge Funds Weigh In On W&T Offshore

Institutional investors have recently modified their holdings of the business. Sanders Morris Harris LLC purchased a new position in W&T Offshore during the 1st quarter worth $26,000. CCG Wealth Management LLC purchased a new stake in W&T Offshore during the 2nd quarter valued at approximately $26,000. Norden Group LLC acquired a new stake in W&T Offshore during the 1st quarter worth approximately $29,000. Caprock Group LLC purchased a new position in shares of W&T Offshore in the 2nd quarter valued at approximately $34,000. Finally, Paloma Partners Management Co purchased a new position in shares of W&T Offshore in the 1st quarter valued at approximately $36,000. 42.88% of the stock is owned by institutional investors and hedge funds.

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.