W&T Offshore (NYSE:WTI) Cut to "Sell" at Wall Street Zen

Key Points

• W&T Offshore's stock has been downgraded from a "hold" to a "sell" rating by Wall Street Zen.
• Despite the downgrade, another firm, Pareto Securities, has issued a "buy" rating, leaving W&T Offshore with an average rating of "buy" among analysts.
• The company reported earnings per share of ($0.08) for the last quarter, exceeding analysts' expectations, but revenue was below consensus estimates at $122.37 million.

Wall Street Zen lowered shares of W&T Offshore (NYSE:WTI - Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Separately, Pareto Securities began coverage on shares of W&T Offshore in a research note on Thursday, September 4th. They set a "buy" rating on the stock. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, W&T Offshore currently has a consensus rating of "Buy".

W&T Offshore Stock Performance

Shares of W&T Offshore stock traded up $0.03 during trading on Friday, reaching $1.76. The company had a trading volume of 590,548 shares, compared to its average volume of 1,690,392. The company has a market cap of $260.34 million, a price-to-earnings ratio of -2.31 and a beta of 0.73. The firm's fifty day moving average is $1.76 and its 200-day moving average is $1.59. 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 released its quarterly earnings data 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 analyst estimates of $131.30 million. On average, research analysts anticipate that W&T Offshore will post -0.45 EPS for the current fiscal year.

W&T Offshore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were paid a $0.01 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.04 annualized dividend and a dividend yield of 2.3%. W&T Offshore's dividend payout ratio (DPR) is presently -5.26%.

Institutional Investors Weigh In On W&T Offshore

Large investors have recently made changes to their positions in the company. Oxford Asset Management LLP acquired a new position in shares of W&T Offshore during the second quarter valued at approximately $29,000. Raymond James Financial Inc. acquired a new position in shares of W&T Offshore during the fourth quarter valued at approximately $32,000. Ethic Inc. acquired a new position in shares of W&T Offshore during the fourth quarter valued at approximately $36,000. EverSource Wealth Advisors LLC increased its stake in shares of W&T Offshore by 9,792.4% during the second quarter. EverSource Wealth Advisors LLC now owns 27,303 shares of the oil and gas company's stock valued at $45,000 after acquiring an additional 27,027 shares during the period. Finally, Prudential Financial Inc. acquired a new position in shares of W&T Offshore during the second quarter valued at approximately $50,000. Institutional investors and hedge funds own 42.88% of the company's stock.

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.