W&T Offshore (NYSE:WTI) Lowered to Sell Rating by Wall Street Zen

W&T Offshore (NYSE:WTI) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Separately, Pareto Securities began coverage on shares of W&T Offshore in a research report on Thursday. They issued a “buy” rating for the company. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

W&T Offshore Stock Performance

Shares of NYSE:WTI opened at $1.76 on Friday. W&T Offshore has a 52-week low of $1.09 and a 52-week high of $2.84. The firm has a fifty day moving average of $1.76 and a 200 day moving average of $1.60. The firm has a market capitalization of $260.34 million, a PE ratio of -2.31 and a beta of 0.73.

W&T Offshore (NYSE:WTI) last announced its earnings results on Monday, August 4th. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.06. The company had revenue of $122.37 million during the quarter, compared to analysts’ expectations of $131.30 million. On average, sell-side analysts forecast that W&T Offshore will post -0.45 EPS for the current fiscal year.

Institutional Trading of W&T Offshore

Several institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. boosted its position in W&T Offshore by 42.7% during the second quarter. Raymond James Financial Inc. now owns 21,957 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 6,569 shares during the period. Price T Rowe Associates Inc. MD boosted its position 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 buying an additional 7,776 shares during the period. Inspire Advisors LLC boosted its position in W&T Offshore by 10.0% during the first 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 during the period. Creative Planning boosted its position in W&T Offshore by 42.3% during the second quarter. Creative Planning now owns 42,885 shares of the oil and gas company’s stock valued at $71,000 after buying an additional 12,749 shares during the period. Finally, Wells Fargo & Company MN boosted its position in W&T Offshore by 39.9% during the fourth 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 during the period. 42.88% of the stock is currently owned by hedge funds and other institutional investors.

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.