W&T Offshore (NYSE:WTI) Raised to “Hold” at StockNews.com

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

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

W&T Offshore Stock Performance

NYSE:WTI opened at $2.25 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 twelve month low of $1.99 and a twelve month high of $4.51. The firm’s fifty day simple moving average is $2.24 and its 200 day simple moving average is $2.46. The stock has a market cap of $330.44 million, a P/E ratio of -15.00 and a beta of 1.40.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data 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). W&T Offshore had a negative net margin of 4.51% and a negative return on equity of 103.71%. The company had revenue of $142.70 million for the quarter, compared to the consensus estimate of $148.05 million. During the same period last year, the business earned ($0.08) EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, research analysts predict that W&T Offshore will post -0.17 EPS for the current year.

W&T Offshore Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.78%. The ex-dividend date is Tuesday, August 20th. W&T Offshore’s dividend payout ratio is currently -26.66%.

Institutional Trading of W&T Offshore

A number of large investors have recently made changes to their positions in the stock. Creative Planning lifted its stake in shares of W&T Offshore by 53.4% in the 2nd quarter. Creative Planning now owns 250,602 shares of the oil and gas company’s stock worth $536,000 after purchasing an additional 87,227 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of W&T Offshore by 17.8% in the second quarter. The Manufacturers Life Insurance Company now owns 47,209 shares of the oil and gas company’s stock worth $101,000 after buying an additional 7,142 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of W&T Offshore by 197.3% in the 2nd quarter. Squarepoint Ops LLC now owns 413,139 shares of the oil and gas company’s stock worth $884,000 after buying an additional 274,156 shares during the last quarter. Aristeia Capital L.L.C. raised its stake in shares of W&T Offshore by 160.9% in the second quarter. Aristeia Capital L.L.C. now owns 311,497 shares of the oil and gas company’s stock valued at $667,000 after acquiring an additional 192,088 shares during the period. Finally, Evergreen Capital Management LLC raised its position in W&T Offshore by 127.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 34,412 shares of the oil and gas company’s stock worth $74,000 after purchasing an additional 19,296 shares during the period. 42.88% of the stock is currently owned by 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.