W&T Offshore (NYSE:WTI) Rating Increased to Hold at Wall Street Zen

Key Points

• W&T Offshore has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a positive change in investor outlook.
• The company's stock price opened at $1.7950 and has seen a 4.4% increase recently, despite reporting a loss of ($0.08) earnings per share in its last earnings release.
• Institutional investors now own 42.88% of the company's stock, with significant stakes being acquired in recent quarters, indicating growing interest in W&T Offshore.

W&T Offshore (NYSE:WTI - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Friday.

W&T Offshore Stock Up 4.4%

WTI opened at $1.7950 on Friday. The stock has a market cap of $266.27 million, a price-to-earnings ratio of -2.36 and a beta of 0.70. W&T Offshore has a twelve month low of $1.09 and a twelve month high of $2.84. The company's 50-day moving average price is $1.80 and its two-hundred day moving average price is $1.59.

W&T Offshore (NYSE:WTI - Get Free Report) last released its earnings results on Monday, August 4th. The oil and gas company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.06. The company had revenue of $122.37 million during the quarter, compared to analysts' expectations of $131.30 million. As a group, sell-side analysts anticipate that W&T Offshore will post -0.45 earnings per share for the current year.

Institutional Trading of W&T Offshore

Hedge funds and other institutional investors have recently modified their holdings of the business. Oxford Asset Management LLP bought a new stake in shares of W&T Offshore in the second quarter valued at approximately $29,000. Raymond James Financial Inc. bought a new stake in shares of W&T Offshore in the fourth quarter valued at approximately $32,000. Ethic Inc. bought a new stake in shares of W&T Offshore in the fourth quarter valued at approximately $36,000. Boothbay Fund Management LLC bought a new stake in shares of W&T Offshore in the fourth quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of W&T Offshore by 9,792.4% in 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 purchasing an additional 27,027 shares during the period. Institutional investors own 42.88% of the company's stock.

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.

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