W&T Offshore (NYSE:WTI) Upgraded at Wall Street Zen

Key Points

• W&T Offshore has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a more favorable view of the stock.
• Additionally, Pareto Securities has initiated coverage with a "buy" rating, contributing to the stock's overall average rating of "buy" from analysts.
• The company's most recent quarterly earnings showed a loss of $0.08 EPS, beating analysts' estimates, with revenues falling short of projections at $122.37 million.

Wall Street Zen upgraded shares of W&T Offshore (NYSE:WTI - Free Report) from a sell rating to a hold rating in a research report sent to investors on Sunday.

Separately, Pareto Securities assumed coverage on W&T Offshore in a research note on Thursday, September 4th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy".

W&T Offshore Trading Up 0.3%

Shares of W&T Offshore stock traded up $0.01 on Friday, reaching $1.82. 1,233,124 shares of the company were exchanged, compared to its average volume of 848,096. The stock has a fifty day moving average price of $1.76 and a 200-day moving average price of $1.60. The firm has a market capitalization of $269.24 million, a price-to-earnings ratio of -2.39 and a beta of 0.73. W&T Offshore has a fifty-two week low of $1.09 and a fifty-two week high of $2.84.

W&T Offshore (NYSE:WTI - Get Free Report) last announced its earnings results on Monday, August 4th. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.06. The company had revenue of $122.37 million for the quarter, compared to analyst estimates of $131.30 million. On average, equities analysts anticipate that W&T Offshore will post -0.45 earnings per share for the current fiscal year.

W&T Offshore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Monday, August 18th. W&T Offshore's dividend payout ratio (DPR) is presently -5.26%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Huber Capital Management LLC boosted its position in W&T Offshore by 35.8% in the 1st quarter. Huber Capital Management LLC now owns 6,858,684 shares of the oil and gas company's stock valued at $10,631,000 after buying an additional 1,808,234 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of W&T Offshore by 427.0% in the 4th quarter. Ameriprise Financial Inc. now owns 3,831,604 shares of the oil and gas company's stock worth $6,360,000 after purchasing an additional 3,104,484 shares during the last quarter. Millennium Management LLC boosted its position in shares of W&T Offshore by 24.2% in the 1st quarter. Millennium Management LLC now owns 3,071,610 shares of the oil and gas company's stock worth $4,761,000 after purchasing an additional 598,614 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of W&T Offshore by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,341,646 shares of the oil and gas company's stock worth $3,864,000 after purchasing an additional 52,982 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of W&T Offshore by 11.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,284,183 shares of the oil and gas company's stock worth $1,990,000 after purchasing an additional 129,564 shares during the last quarter. 42.88% of the stock is currently owned by institutional investors.

About W&T Offshore

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.