StockNews.com lowered shares of W&T Offshore (NYSE:WTI - Free Report) from a hold rating to a sell rating in a research report sent to investors on Wednesday.
W&T Offshore Stock Up 1.7 %
WTI stock traded up $0.03 on Wednesday, hitting $1.47. 1,262,043 shares of the company's stock were exchanged, compared to its average volume of 1,561,416. W&T Offshore has a 12-month low of $1.30 and a 12-month high of $2.84. The firm has a 50 day moving average price of $1.68 and a two-hundred day moving average price of $1.92. The company has a debt-to-equity ratio of 75.32, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $216.29 million, a P/E ratio of -3.41 and a beta of 1.14.
W&T Offshore Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.04 annualized dividend and a yield of 2.73%. W&T Offshore's payout ratio is presently -6.78%.
Institutional Trading of W&T Offshore
Several large investors have recently added to or reduced their stakes in WTI. Raymond James Financial Inc. purchased a new stake in W&T Offshore during the 4th quarter valued at about $32,000. US Bancorp DE purchased a new stake in W&T Offshore during the 4th quarter valued at about $33,000. Ethic Inc. purchased a new stake in W&T Offshore during the 4th quarter valued at about $36,000. Boothbay Fund Management LLC purchased a new stake in W&T Offshore during the 4th quarter valued at about $41,000. Finally, R Squared Ltd purchased a new stake in W&T Offshore during the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 42.88% of the company's stock.
W&T Offshore Company Profile
(
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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.
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