StockNews.com Upgrades W&T Offshore (NYSE:WTI) to "Hold"

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

W&T Offshore Trading Down 2.5 %

WTI stock traded down $0.05 during mid-day trading on Wednesday, reaching $1.97. 2,023,551 shares of the stock traded hands, compared to its average volume of 2,119,756. W&T Offshore has a 52-week low of $1.93 and a 52-week high of $4.47. The stock's fifty day moving average is $2.27 and its 200-day moving average is $2.36. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 75.32. The company has a market cap of $289.31 million, a P/E ratio of -13.47 and a beta of 1.40.

W&T Offshore (NYSE:WTI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). The business had revenue of $142.70 million for the quarter, compared to analysts' expectations of $148.05 million. W&T Offshore had a negative net margin of 4.51% and a negative return on equity of 103.71%. The business's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. As a group, sell-side analysts expect that W&T Offshore will post -0.34 earnings per share for the current year.

W&T Offshore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th were given a $0.01 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.04 annualized dividend and a dividend yield of 2.03%. W&T Offshore's dividend payout ratio is -26.67%.

Hedge Funds Weigh In On W&T Offshore

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund increased its holdings in shares of W&T Offshore by 36.9% during the 4th quarter. New York State Common Retirement Fund now owns 160,843 shares of the oil and gas company's stock worth $524,000 after purchasing an additional 43,376 shares during the period. BNP Paribas Financial Markets lifted its position in shares of W&T Offshore by 81.2% in the 4th quarter. BNP Paribas Financial Markets now owns 262,124 shares of the oil and gas company's stock worth $855,000 after acquiring an additional 117,462 shares during the period. Jump Financial LLC acquired a new stake in shares of W&T Offshore during the 4th quarter worth approximately $758,000. Quadrant Capital Group LLC increased its position in shares of W&T Offshore by 131.6% during the fourth quarter. Quadrant Capital Group LLC now owns 15,607 shares of the oil and gas company's stock valued at $51,000 after purchasing an additional 8,869 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of W&T Offshore in the fourth quarter valued at $382,000. Institutional investors own 42.88% of the company's stock.

W&T Offshore Company Profile

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.