W&T Offshore (NYSE:WTI) Downgraded to “Sell” Rating by StockNews.com

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

W&T Offshore Trading Down 1.7 %

WTI opened at $1.49 on Wednesday. The stock has a market capitalization of $218.83 million, a PE ratio of -3.45 and a beta of 1.32. The company has a debt-to-equity ratio of 75.32, a current ratio of 0.98 and a quick ratio of 0.98. W&T Offshore has a 12-month low of $1.30 and a 12-month high of $2.84. The firm’s fifty day moving average price is $1.69 and its 200 day moving average price is $1.93.

W&T Offshore Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.69%. The ex-dividend date is Monday, March 17th. W&T Offshore’s dividend payout ratio is currently -9.30%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of W&T Offshore by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,146,569 shares of the oil and gas company’s stock valued at $4,616,000 after acquiring an additional 52,186 shares during the last quarter. Barclays PLC boosted its holdings in W&T Offshore by 317.3% in the third quarter. Barclays PLC now owns 140,781 shares of the oil and gas company’s stock worth $303,000 after purchasing an additional 107,045 shares during the period. FMR LLC increased its stake in W&T Offshore by 72.1% during the third quarter. FMR LLC now owns 37,846 shares of the oil and gas company’s stock valued at $81,000 after purchasing an additional 15,852 shares during the last quarter. R Squared Ltd acquired a new stake in shares of W&T Offshore during the fourth quarter worth $54,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of W&T Offshore by 307.5% during the third quarter. BNP Paribas Financial Markets now owns 138,029 shares of the oil and gas company’s stock worth $297,000 after purchasing an additional 104,156 shares during the period. Institutional investors own 42.88% of the company’s stock.

W&T Offshore Company 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.