Wall Street Zen Downgrades W&T Offshore (NYSE:WTI) to Sell

W&T Offshore (NYSE:WTI - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

W&T Offshore Trading Up 1.7%

W&T Offshore stock traded up $0.03 during mid-day trading on Friday, hitting $1.48. The company's stock had a trading volume of 587,126 shares, compared to its average volume of 1,691,462. The stock has a market cap of $217.79 million, a price-to-earnings ratio of -3.43 and a beta of 0.53. The company has a debt-to-equity ratio of 75.32, a current ratio of 0.98 and a quick ratio of 0.98. The business has a 50 day moving average price of $1.33 and a 200-day moving average price of $1.58. W&T Offshore has a 12 month low of $1.09 and a 12 month high of $2.84.

W&T Offshore (NYSE:WTI - Get Free Report) last issued its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.01. The firm had revenue of $129.87 million during the quarter, compared to analyst estimates of $123.91 million. W&T Offshore had a negative net margin of 11.95% and a negative return on equity of 775.16%. As a group, analysts forecast that W&T Offshore will post -0.45 EPS for the current year.

Institutional Trading of W&T Offshore

Several large investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of W&T Offshore during the 4th quarter valued at about $32,000. US Bancorp DE acquired a new position in W&T Offshore during the 4th quarter worth about $33,000. Ethic Inc. acquired a new position in shares of W&T Offshore in the fourth quarter worth $36,000. Boothbay Fund Management LLC purchased a new position in shares of W&T Offshore during the fourth quarter worth about $41,000. Finally, R Squared Ltd acquired a new position in shares of W&T Offshore in the fourth quarter valued at approximately $54,000. 42.88% of the stock is currently owned by hedge funds and other 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.