StockNews.com Lowers W&T Offshore (NYSE:WTI) to Sell

W&T Offshore (NYSE:WTI) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Separately, Stifel Nicolaus increased their target price on shares of W&T Offshore from $7.50 to $7.80 and gave the company a “buy” rating in a research note on Tuesday, April 23rd.

W&T Offshore Stock Performance

WTI stock traded up $0.09 during mid-day trading on Wednesday, reaching $2.20. 3,624,570 shares of the stock traded hands, compared to its average volume of 2,270,855. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 18.51. W&T Offshore has a 52 week low of $1.99 and a 52 week high of $4.51. The business has a 50-day moving average of $2.23 and a two-hundred day moving average of $2.50. The firm has a market capitalization of $323.09 million, a PE ratio of -14.67 and a beta of 1.40.

W&T Offshore (NYSE:WTI) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). W&T Offshore had a negative net margin of 4.04% and a negative return on equity of 100.74%. The firm had revenue of $142.70 million for the quarter, compared to the consensus estimate of $148.05 million. During the same quarter last year, the company earned ($0.08) earnings per share. The firm’s revenue was up 13.1% on a year-over-year basis. As a group, equities analysts predict that W&T Offshore will post -0.17 EPS for the current fiscal year.

Institutional Trading of W&T Offshore

Several hedge funds have recently modified their holdings of WTI. Sanders Morris Harris LLC acquired a new stake in shares of W&T Offshore during the first quarter worth approximately $26,000. CCG Wealth Management LLC acquired a new stake in shares of W&T Offshore in the second quarter valued at approximately $26,000. Signaturefd LLC increased its holdings in shares of W&T Offshore by 907.2% in the fourth quarter. Signaturefd LLC now owns 8,390 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 7,557 shares in the last quarter. Norden Group LLC acquired a new stake in shares of W&T Offshore in the first quarter valued at approximately $29,000. Finally, Caprock Group LLC acquired a new stake in shares of W&T Offshore in the second quarter valued at approximately $34,000. Institutional investors and hedge funds 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.