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

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

W&T Offshore Price Performance

WTI stock opened at $2.08 on Thursday. The company 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 fifty day moving average price of $2.23 and a 200-day moving average price of $2.32. The company has a debt-to-equity ratio of 75.32, a quick ratio of 1.06 and a current ratio of 1.06. W&T Offshore has a 52-week low of $1.92 and a 52-week high of $4.47.

W&T Offshore (NYSE:WTI) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share (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 the consensus estimate of $148.05 million. During the same period in the prior year, the business earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities analysts expect that W&T Offshore will post -0.35 EPS for the current year.

W&T Offshore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders 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 1.92%. The ex-dividend date was Tuesday, August 20th. W&T Offshore’s dividend payout ratio is presently -26.67%.

Institutional Investors Weigh In On W&T Offshore

Several large investors have recently modified their holdings of WTI. Price T Rowe Associates Inc. MD grew its stake in W&T Offshore by 26.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,409 shares of the oil and gas company’s stock worth $78,000 after purchasing an additional 6,187 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of W&T Offshore by 17.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 47,209 shares of the oil and gas company’s stock worth $101,000 after buying an additional 7,142 shares during the period. Quadrant Capital Group LLC increased its stake in shares of W&T Offshore by 131.6% in the 4th quarter. Quadrant Capital Group LLC now owns 15,607 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 8,869 shares in the last quarter. Sanders Morris Harris LLC acquired a new position in shares of W&T Offshore during the 1st quarter valued at $26,000. Finally, Norden Group LLC bought a new position in W&T Offshore during the first quarter worth $29,000. 42.88% of the stock is currently 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.