W&T Offshore (NYSE:WTI) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of W&T Offshore (NYSE:WTI - Free Report) from a hold rating to a sell rating in a report released on Tuesday.

W&T Offshore Stock Down 8.1 %

Shares of NYSE:WTI traded down $0.19 during midday trading on Tuesday, reaching $2.11. The company had a trading volume of 1,660,048 shares, compared to its average volume of 2,138,616. The stock has a market capitalization of $309.14 million, a P/E ratio of -14.03 and a beta of 1.40. The stock's fifty day moving average price is $2.28 and its 200-day moving average price is $2.40. The company has a debt-to-equity ratio of 75.32, a current ratio of 1.06 and a quick ratio of 1.06. W&T Offshore has a one year low of $1.99 and a one year high of $4.51.

W&T Offshore (NYSE:WTI - Get Free Report) last released its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $142.70 million during the quarter, compared to the consensus estimate of $148.05 million. W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. W&T Offshore's revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) EPS. Equities research analysts expect that W&T Offshore will post -0.34 earnings per share for the current fiscal year.

W&T Offshore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.01 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.90%. W&T Offshore's dividend payout ratio (DPR) is -26.66%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in W&T Offshore by 26.6% in the first 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. The Manufacturers Life Insurance Company raised its position in shares of W&T Offshore by 17.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 47,209 shares of the oil and gas company's stock worth $101,000 after purchasing an additional 7,142 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of W&T Offshore by 131.6% in the 4th quarter. Quadrant Capital Group LLC now owns 15,607 shares of the oil and gas company's stock worth $51,000 after purchasing an additional 8,869 shares during the last quarter. Sanders Morris Harris LLC acquired a new position in W&T Offshore during the 1st quarter valued at approximately $26,000. Finally, Norden Group LLC bought a new position in W&T Offshore during the 1st quarter worth $29,000. 42.88% of the stock is owned by institutional investors and hedge funds.

About W&T Offshore

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.