Wall Street Zen lowered shares of W&T Offshore (NYSE:WTI - Free Report) from a hold rating to a sell rating in a research report sent to investors on Sunday.
W&T Offshore Stock Down 6.2%
Shares of WTI traded down $0.11 during trading on Friday, reaching $1.66. 2,994,701 shares of the company traded hands, compared to its average volume of 1,824,325. The stock has a 50-day simple moving average of $1.52 and a 200-day simple moving average of $1.56. The stock has a market cap of $245.10 million, a PE ratio of -2.31 and a beta of 0.65. W&T Offshore has a twelve month low of $1.09 and a twelve month high of $2.84.
W&T Offshore (NYSE:WTI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. The firm had revenue of $129.87 million during the quarter, compared to the consensus estimate of $123.91 million. W&T Offshore had a negative net margin of 20.66% and a negative return on equity of 775.16%. On average, equities research analysts predict that W&T Offshore will post -0.45 EPS for the current year.
W&T Offshore Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 20th were issued a $0.01 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.04 annualized dividend and a dividend yield of 2.41%. W&T Offshore's dividend payout ratio is presently -5.56%.
Hedge Funds Weigh In On W&T Offshore
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in W&T Offshore during the fourth quarter worth about $32,000. US Bancorp DE purchased a new position in shares of W&T Offshore in the fourth quarter valued at approximately $33,000. Ethic Inc. acquired a new position in shares of W&T Offshore in the fourth quarter valued at approximately $36,000. Boothbay Fund Management LLC purchased a new stake in W&T Offshore during the 4th quarter worth approximately $41,000. Finally, RPO LLC purchased a new stake in W&T Offshore during the 4th quarter worth approximately $55,000. 42.88% of the stock is currently owned by hedge funds and other institutional investors.
About W&T Offshore
(
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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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