W&T Offshore (NYSE:WTI) Rating Lowered to Sell at Wall Street Zen

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 released on Sunday.

W&T Offshore Stock Performance

WTI traded down $0.20 during trading hours on Friday, reaching $2.17. The company's stock had a trading volume of 5,954,433 shares, compared to its average volume of 1,766,505. W&T Offshore has a 52 week low of $1.09 and a 52 week high of $2.84. The company's 50-day moving average is $1.49 and its 200-day moving average is $1.56. The firm has a market cap of $319.66 million, a PE ratio of -3.01 and a beta of 0.65.

W&T Offshore (NYSE:WTI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.01. The business had revenue of $129.87 million for the quarter, compared to analysts' expectations of $123.91 million. W&T Offshore had a negative return on equity of 775.16% and a negative net margin of 20.66%. 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 Tuesday, May 27th. Shareholders of record on Tuesday, May 20th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, May 20th. W&T Offshore's payout ratio is -5.56%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WTI. Ameriprise Financial Inc. grew its holdings in shares of W&T Offshore by 427.0% during 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 in the last quarter. Huber Capital Management LLC grew its holdings in shares of W&T Offshore by 35.8% during the 1st quarter. Huber Capital Management LLC now owns 6,858,684 shares of the oil and gas company's stock worth $10,631,000 after purchasing an additional 1,808,234 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of W&T Offshore during the 4th quarter worth $1,608,000. Millennium Management LLC grew its holdings in shares of W&T Offshore by 24.2% during 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of W&T Offshore by 142.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 839,446 shares of the oil and gas company's stock worth $1,301,000 after purchasing an additional 493,692 shares in 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.