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

W&T Offshore (NYSE:WTI) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

W&T Offshore Trading Down 1.3 %

WTI opened at $1.95 on Wednesday. The firm has a 50 day simple moving average of $2.26 and a 200 day simple moving average of $2.36. W&T Offshore has a fifty-two week low of $1.92 and a fifty-two week high of $4.47. The company has a market cap of $285.64 million, a price-to-earnings ratio of -12.97 and a beta of 1.40. The company has a debt-to-equity ratio of 75.32, a current ratio of 1.06 and a quick ratio of 1.06.

W&T Offshore (NYSE:WTI) last released its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The business had revenue of $142.70 million for the quarter, compared to analyst estimates of $148.05 million. W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. W&T Offshore’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) EPS. On average, sell-side analysts anticipate that W&T Offshore will post -0.34 earnings per share for the current year.

Institutional Trading of W&T Offshore

A number of institutional investors and hedge funds have recently modified their holdings of WTI. Sanders Morris Harris LLC bought a new position in W&T Offshore during the 1st quarter worth approximately $26,000. Norden Group LLC acquired a new stake in W&T Offshore in the first quarter worth $29,000. CCG Wealth Management LLC acquired a new stake in W&T Offshore in the second quarter worth $26,000. Paloma Partners Management Co bought a new position in shares of W&T Offshore during the first quarter worth $36,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of W&T Offshore by 131.6% in the 4th quarter. Quadrant Capital Group LLC now owns 15,607 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 8,869 shares during the period. 42.88% of the stock is 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.