W&T Offshore (NYSE:WTI) Upgraded at StockNews.com

StockNews.com upgraded shares of W&T Offshore (NYSE:WTI) from a sell rating to a hold rating in a report released on Wednesday morning.

W&T Offshore Trading Up 5.2 %

W&T Offshore stock opened at $2.04 on Wednesday. W&T Offshore has a 12-month low of $1.92 and a 12-month high of $4.47. The firm has a market capitalization of $299.59 million, a price-to-earnings ratio of -13.60 and a beta of 1.40. The firm has a 50 day moving average of $2.26 and a 200 day moving average of $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.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). W&T Offshore had a negative net margin of 4.51% and a negative return on equity of 103.71%. The firm had revenue of $142.70 million for the quarter, compared to the consensus estimate of $148.05 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, research analysts predict that W&T Offshore will post -0.34 earnings per share for the current year.

W&T Offshore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.04 dividend on an annualized basis and a yield of 1.96%. W&T Offshore’s dividend payout ratio is presently -26.66%.

Hedge Funds Weigh In On W&T Offshore

Institutional investors have recently bought and sold shares of the stock. Sanders Morris Harris LLC purchased a new position in shares of W&T Offshore during the first quarter valued at about $26,000. CCG Wealth Management LLC bought a new stake in shares of W&T Offshore in the 2nd quarter worth about $26,000. Norden Group LLC bought a new stake in shares of W&T Offshore in the 1st quarter valued at approximately $29,000. Caprock Group LLC bought a new position in shares of W&T Offshore during the 2nd quarter valued at approximately $34,000. Finally, Paloma Partners Management Co purchased a new stake in W&T Offshore during the 1st quarter valued at $36,000. 42.88% of the stock is owned by hedge funds and other institutional investors.

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.