W&T Offshore (NYSE:WTI) Downgraded by StockNews.com

StockNews.com lowered shares of W&T Offshore (NYSE:WTI) from a hold rating to a sell rating in a report issued on Thursday.

W&T Offshore Trading Down 1.4 %

Shares of W&T Offshore stock opened at $2.08 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 75.32. W&T Offshore has a 12-month low of $1.92 and a 12-month high of $4.47. The company has a market capitalization of $305.46 million, a price-to-earnings ratio of -13.87 and a beta of 1.40. The firm’s 50-day moving average price is $2.23 and its two-hundred day moving average price is $2.32.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. The firm had revenue of $142.70 million for the quarter, compared to analyst estimates of $148.05 million. During the same quarter in the prior year, the business posted ($0.08) EPS. The business’s revenue was up 13.1% on a year-over-year basis. On average, analysts forecast that W&T Offshore will post -0.35 earnings per share for the current fiscal year.

W&T Offshore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Tuesday, August 20th. W&T Offshore’s dividend payout ratio (DPR) is presently -26.67%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Sanders Morris Harris LLC acquired a new stake in shares of W&T Offshore in the 1st quarter valued at approximately $26,000. CCG Wealth Management LLC bought a new stake in shares of W&T Offshore during the second quarter worth $26,000. Norden Group LLC bought a new stake in shares of W&T Offshore during the first quarter worth $29,000. Caprock Group LLC acquired a new position in shares of W&T Offshore during the second quarter worth $34,000. Finally, Paloma Partners Management Co acquired a new stake in shares of W&T Offshore during the 1st quarter valued at $36,000. 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.