W&T Offshore (NYSE:WTI) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• W&T Offshore has received a "sell (D-)" rating from Weiss Ratings, indicating concerns about the company's financial health.
• Despite the negative outlook, Pareto Securities has initiated coverage on W&T Offshore with a "buy" rating, highlighting mixed analyst sentiment.
• The company recently reported earnings with a loss of ($0.08) EPS, outperforming the consensus estimate of ($0.14), but missing revenue expectations of $131.30 million with reported revenue of $122.37 million.

W&T Offshore (NYSE:WTI - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other analysts have also weighed in on the company. Pareto Securities initiated coverage on W&T Offshore in a research note on Thursday, September 4th. They issued a "buy" rating for the company. Wall Street Zen upgraded W&T Offshore from a "sell" rating to a "hold" rating in a report on Sunday, September 14th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, W&T Offshore currently has a consensus rating of "Hold".

W&T Offshore Trading Up 1.6%

WTI stock traded up $0.04 during midday trading on Wednesday, hitting $2.23. The stock had a trading volume of 1,591,662 shares, compared to its average volume of 1,726,800. The firm has a market capitalization of $330.06 million, a price-to-earnings ratio of -2.93 and a beta of 0.65. W&T Offshore has a 52 week low of $1.09 and a 52 week high of $2.49. The stock has a 50-day simple moving average of $1.80 and a 200 day simple moving average of $1.64.

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

Hedge Funds Weigh In On W&T Offshore

Several institutional investors have recently modified their holdings of the business. Rexford Capital Inc. bought a new position in shares of W&T Offshore during the 2nd quarter valued at about $193,000. Oxford Asset Management LLP bought a new position in shares of W&T Offshore during the 2nd quarter valued at about $29,000. BNP Paribas Financial Markets lifted its holdings in shares of W&T Offshore by 2,092.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 129,104 shares of the oil and gas company's stock valued at $213,000 after purchasing an additional 123,216 shares in the last quarter. Brevan Howard Capital Management LP lifted its holdings in shares of W&T Offshore by 19.2% during the 2nd quarter. Brevan Howard Capital Management LP now owns 156,247 shares of the oil and gas company's stock valued at $258,000 after purchasing an additional 25,186 shares in the last quarter. Finally, Bank of America Corp DE raised its position in W&T Offshore by 46.6% in the 2nd quarter. Bank of America Corp DE now owns 468,643 shares of the oil and gas company's stock valued at $773,000 after buying an additional 149,000 shares during the last quarter. Institutional investors 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.

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