W&T Offshore (NYSE:WTI) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of W&T Offshore (NYSE:WTI) from a sell rating to a hold rating in a report issued on Saturday morning.

W&T Offshore Trading Down 4.0%

Shares of WTI stock opened at $2.07 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 75.32. The stock has a market capitalization of $304.90 million, a price-to-earnings ratio of -4.80 and a beta of 0.65. W&T Offshore has a 12-month low of $1.09 and a 12-month high of $2.84. The stock’s 50-day moving average price is $1.40 and its 200-day moving average price is $1.55.

W&T Offshore (NYSE:WTI) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. The business had revenue of $129.87 million during the quarter, compared to analysts’ expectations of $123.91 million. W&T Offshore had a negative return on equity of 775.16% and a negative net margin of 11.95%. Equities research analysts predict that W&T Offshore will post -0.45 EPS for the current fiscal year.

W&T Offshore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.94%. The ex-dividend date was Tuesday, May 20th. W&T Offshore’s dividend payout ratio is presently -5.56%.

Hedge Funds Weigh In On W&T Offshore

Institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in W&T Offshore in the fourth quarter worth about $32,000. US Bancorp DE purchased a new position in W&T Offshore in the fourth quarter worth about $33,000. Ethic Inc. purchased a new position in shares of W&T Offshore during the fourth quarter valued at approximately $36,000. Boothbay Fund Management LLC purchased a new position in shares of W&T Offshore during the fourth quarter valued at approximately $41,000. Finally, RPO LLC purchased a new position in shares of W&T Offshore during the fourth quarter valued at approximately $55,000. Hedge funds and other 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.