Short Interest in W&T Offshore, Inc. (NYSE:WTI) Rises By 41,594.9%

Key Points

• W&T Offshore's short interest soared by 41,594.9% in July, with 22,140,000 shares short sold, representing approximately 22.7% of the company's total shares.
• Wall Street Zen downgraded W&T Offshore from a "hold" to a "sell" rating on June 22nd, indicating analyst skepticism regarding the stock's performance.
• The company recently announced a quarterly dividend of $0.01 per share, translating to an annualized yield of 2.3%, while maintaining a negative payout ratio of -5.56%.

W&T Offshore, Inc. (NYSE:WTI - Get Free Report) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 22,140,000 shares, agrowthof41,594.9% from the June 30th total of 53,100 shares. Based on an average daily volume of 2,200,000 shares, the short-interest ratio is currently 10.1 days. Currently,22.7% of the company's shares are sold short. Currently,22.7% of the company's shares are sold short. Based on an average daily volume of 2,200,000 shares, the short-interest ratio is currently 10.1 days.

W&T Offshore Stock Performance

WTI stock traded down $0.03 during midday trading on Tuesday, hitting $1.71. 830,742 shares of the company's stock were exchanged, compared to its average volume of 1,810,423. The stock's fifty day moving average price is $1.78 and its 200-day moving average price is $1.58. The company has a market cap of $251.75 million, a PE ratio of -2.37 and a beta of 0.70. W&T Offshore has a one year low of $1.09 and a one year high of $2.84.

W&T Offshore (NYSE:WTI - Get Free Report) last posted its earnings results on Monday, August 4th. The oil and gas company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.06. The business had revenue of $122.37 million for the quarter, compared to the consensus estimate of $131.30 million. On average, analysts expect that W&T Offshore will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WTI. Raymond James Financial Inc. bought a new stake in W&T Offshore during the fourth quarter worth about $32,000. Ethic Inc. bought a new stake in W&T Offshore in the fourth quarter valued at approximately $36,000. Boothbay Fund Management LLC bought a new stake in W&T Offshore in the fourth quarter valued at approximately $41,000. RPO LLC bought a new stake in W&T Offshore in the fourth quarter valued at approximately $55,000. Finally, Price T Rowe Associates Inc. MD raised its stake in W&T Offshore by 24.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,829 shares of the oil and gas company's stock valued at $67,000 after buying an additional 7,776 shares during the period. 42.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen lowered W&T Offshore from a "hold" rating to a "sell" rating in a research report on Sunday, June 22nd.

W&T Offshore Company Profile

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.