Wall Street Zen upgraded shares of W&T Offshore (NYSE:WTI - Free Report) from a sell rating to a hold rating in a research report released on Saturday morning.
W&T Offshore Stock Performance
WTI stock traded up $0.16 during midday trading on Friday, reaching $2.23. The stock had a trading volume of 6,370,772 shares, compared to its average volume of 1,727,968. The stock has a market cap of $328.52 million, a PE ratio of -3.09 and a beta of 0.65. The firm has a fifty day simple moving average of $1.42 and a two-hundred day simple moving average of $1.55. W&T Offshore has a 52-week low of $1.09 and a 52-week 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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.01. The company had revenue of $129.87 million during the quarter, compared to analyst estimates of $123.91 million. W&T Offshore had a negative return on equity of 775.16% and a negative net margin of 20.66%. On average, sell-side analysts predict that W&T Offshore will post -0.45 EPS for the current fiscal year.
W&T Offshore Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 20th were paid a $0.01 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.04 dividend on an annualized basis and a yield of 1.80%. W&T Offshore's dividend payout ratio (DPR) is -5.56%.
Hedge Funds Weigh In On W&T Offshore
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WTI. Raymond James Financial Inc. purchased a new position in shares of W&T Offshore during the 4th quarter valued at about $32,000. US Bancorp DE purchased a new position in shares of W&T Offshore during the 4th quarter valued at about $33,000. Ethic Inc. purchased a new position in shares of W&T Offshore during the 4th quarter valued at about $36,000. Boothbay Fund Management LLC purchased a new position in shares of W&T Offshore during the 4th quarter valued at about $41,000. Finally, RPO LLC purchased a new position in shares of W&T Offshore during the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 42.88% of the company's stock.
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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