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

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

W&T Offshore Stock Performance

NYSE WTI opened at $2.08 on Thursday. The stock has a market capitalization of $305.46 million, a price-to-earnings ratio of -13.87 and a beta of 1.40. The business’s 50 day moving average is $2.23 and its two-hundred day moving average is $2.31. W&T Offshore has a 12-month low of $1.92 and a 12-month high of $4.47. 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) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $142.70 million for the quarter, compared to analyst estimates of $148.05 million. During the same period in the prior year, the company earned ($0.08) EPS. The company’s revenue was up 13.1% on a year-over-year basis. Research analysts expect that W&T Offshore will post -0.35 EPS for the current year.

W&T Offshore Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Tuesday, August 20th. W&T Offshore’s dividend payout ratio is currently -26.67%.

Hedge Funds Weigh In On W&T Offshore

Hedge funds have recently bought and sold shares of the company. Creative Planning raised its position in W&T Offshore by 53.4% during the second quarter. Creative Planning now owns 250,602 shares of the oil and gas company’s stock worth $536,000 after acquiring an additional 87,227 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of W&T Offshore by 17.8% during 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 purchasing an additional 7,142 shares during the last quarter. Squarepoint Ops LLC grew its holdings in 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 valued at $884,000 after buying an additional 274,156 shares during the period. Aristeia Capital L.L.C. increased its position in W&T Offshore by 160.9% during the second quarter. Aristeia Capital L.L.C. now owns 311,497 shares of the oil and gas company’s stock worth $667,000 after purchasing an additional 192,088 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of 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 buying an additional 19,296 shares during the period. 42.88% of the stock is owned by hedge funds and other institutional investors.

About W&T Offshore

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.