StockNews.com Upgrades W&T Offshore (NYSE:WTI) to “Hold”

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

W&T Offshore Stock Performance

NYSE WTI traded down $0.06 during trading on Friday, hitting $1.70. The company’s stock had a trading volume of 1,769,176 shares, compared to its average volume of 2,081,434. W&T Offshore has a 52 week low of $1.69 and a 52 week high of $3.44. The firm has a market cap of $250.51 million, a P/E ratio of -3.95 and a beta of 1.35. The firm has a 50 day moving average price of $2.05 and a 200 day moving average price of $2.16. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 75.32.

Institutional Investors Weigh In On W&T Offshore

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in W&T Offshore by 26.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,409 shares of the oil and gas company’s stock worth $78,000 after acquiring an additional 6,187 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of W&T Offshore during the second quarter valued at approximately $182,000. Bank of New York Mellon Corp increased its holdings in shares of W&T Offshore by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 1,009,865 shares of the oil and gas company’s stock valued at $2,161,000 after purchasing an additional 50,094 shares in the last quarter. Signaturefd LLC raised its position in W&T Offshore by 203.1% in the 2nd quarter. Signaturefd LLC now owns 19,640 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 13,161 shares during the last quarter. Finally, CCG Wealth Management LLC acquired a new position in W&T Offshore during the 2nd quarter worth $26,000. Institutional investors and hedge funds 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.