W&T Offshore (NYSE:WTI) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of W&T Offshore (NYSE:WTI) from a hold rating to a sell rating in a research note published on Sunday.

W&T Offshore Stock Down 13.9%

Shares of NYSE WTI opened at $1.77 on Friday. The firm has a market cap of $260.60 million, a price-to-earnings ratio of -2.45 and a beta of 0.65. The company’s 50-day simple moving average is $1.52 and its 200-day simple moving average is $1.56. W&T Offshore has a 52-week low of $1.09 and a 52-week high of $2.84.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. The company had revenue of $129.87 million during the quarter, compared to analyst estimates of $123.91 million. W&T Offshore had a negative return on equity of 775.16% and a negative net margin of 20.66%. Equities research analysts anticipate that W&T Offshore will post -0.45 EPS for the current fiscal year.

W&T Offshore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Tuesday, May 20th. W&T Offshore’s dividend payout ratio (DPR) is currently -5.56%.

Institutional Trading of W&T Offshore

Several large investors have recently added to or reduced their stakes in WTI. Raymond James Financial Inc. purchased a new position in shares of W&T Offshore during the 4th quarter worth $32,000. US Bancorp DE acquired a new stake in W&T Offshore during the fourth quarter worth about $33,000. Ethic Inc. purchased a new position in W&T Offshore during the fourth quarter worth about $36,000. Boothbay Fund Management LLC purchased a new position in W&T Offshore during the fourth quarter worth about $41,000. Finally, RPO LLC acquired a new position in W&T Offshore in the 4th quarter valued at about $55,000. 42.88% of the stock is currently owned by hedge funds and other institutional investors.

About W&T Offshore

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.