W&T Offshore (NYSE:WTI) Downgraded to "Sell" at StockNews.com

StockNews.com downgraded shares of W&T Offshore (NYSE:WTI - Free Report) from a hold rating to a sell rating in a report published on Thursday morning.

W&T Offshore Stock Performance

WTI remained flat at $2.11 during trading on Thursday. The company's stock had a trading volume of 764,238 shares, compared to its average volume of 2,088,004. The firm has a market cap of $309.14 million, a PE ratio of -14.03 and a beta of 1.40. The business's 50-day moving average is $2.24 and its 200 day moving average is $2.33. W&T Offshore has a 1-year low of $1.92 and a 1-year high of $4.47. 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 (NYSE:WTI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates 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%. The business's revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. On average, equities analysts expect that W&T Offshore will post -0.35 EPS for the current year.

W&T Offshore Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WTI. Creative Planning raised its position in shares of W&T Offshore by 53.4% during the 2nd quarter. Creative Planning now owns 250,602 shares of the oil and gas company's stock valued at $536,000 after purchasing an additional 87,227 shares during the period. The Manufacturers Life Insurance Company increased its stake in W&T Offshore by 17.8% in 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 buying an additional 7,142 shares in the last quarter. Squarepoint Ops LLC raised its holdings in W&T Offshore by 197.3% during the second quarter. Squarepoint Ops LLC now owns 413,139 shares of the oil and gas company's stock valued at $884,000 after acquiring an additional 274,156 shares during the period. Aristeia Capital L.L.C. lifted its position in shares of W&T Offshore by 160.9% in the second quarter. Aristeia Capital L.L.C. now owns 311,497 shares of the oil and gas company's stock valued at $667,000 after acquiring an additional 192,088 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in shares of W&T Offshore by 127.7% in the second quarter. Evergreen Capital Management LLC now owns 34,412 shares of the oil and gas company's stock worth $74,000 after acquiring an additional 19,296 shares during the period. Institutional investors own 42.88% of the company's stock.

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.