W&T Offshore (NYSE:WTI) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of W&T Offshore (NYSE:WTI) from a sell rating to a hold rating in a research note published on Thursday morning.

W&T Offshore Stock Up 0.7 %

WTI stock opened at $1.36 on Thursday. W&T Offshore has a twelve month low of $1.09 and a twelve month high of $2.84. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 75.32. The company has a market cap of $200.78 million, a PE ratio of -3.16 and a beta of 0.53. The business’s 50-day simple moving average is $1.34 and its 200 day simple moving average is $1.64.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. The company had revenue of $129.87 million for 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 11.95%. On average, research analysts anticipate that W&T Offshore will post -0.45 earnings per share for the current year.

W&T Offshore Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.04 annualized dividend and a dividend yield of 2.94%. W&T Offshore’s dividend payout ratio (DPR) is currently -6.78%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in W&T Offshore by 24.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,829 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 7,776 shares in the last quarter. Inspire Advisors LLC boosted its stake in W&T Offshore by 10.0% in the 1st quarter. Inspire Advisors LLC now owns 120,643 shares of the oil and gas company’s stock valued at $187,000 after buying an additional 10,962 shares in the last quarter. Wells Fargo & Company MN boosted its stake in W&T Offshore by 39.9% in the 4th quarter. Wells Fargo & Company MN now owns 46,419 shares of the oil and gas company’s stock valued at $77,000 after buying an additional 13,237 shares in the last quarter. Barclays PLC grew its position in W&T Offshore by 11.0% in the fourth quarter. Barclays PLC now owns 156,226 shares of the oil and gas company’s stock valued at $259,000 after acquiring an additional 15,445 shares during the period. Finally, R Squared Ltd lifted its holdings in shares of W&T Offshore by 48.6% during the first quarter. R Squared Ltd now owns 48,500 shares of the oil and gas company’s stock valued at $75,000 after acquiring an additional 15,870 shares during the period. Institutional investors and hedge funds 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.