W&T Offshore (NYSE:WTI) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of W&T Offshore (NYSE:WTI - Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

W&T Offshore Stock Performance

Shares of NYSE:WTI traded up $0.21 during trading on Friday, hitting $2.15. 7,736,672 shares of the stock traded hands, compared to its average volume of 1,695,184. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 75.32. The company has a market cap of $316.71 million, a price-to-earnings ratio of -4.99 and a beta of 0.65. The company has a fifty day moving average price of $1.38 and a two-hundred day moving average price 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 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 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, equities analysts predict that W&T Offshore will post -0.45 EPS for the current year.

W&T Offshore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Tuesday, May 20th. W&T Offshore's dividend payout ratio (DPR) is -5.56%.

Institutional Investors Weigh In On W&T Offshore

Several institutional investors and hedge funds have recently added to or reduced their stakes in WTI. Ameriprise Financial Inc. increased its holdings in W&T Offshore by 427.0% in 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 acquiring an additional 3,104,484 shares in the last quarter. Huber Capital Management LLC increased its holdings in W&T Offshore by 35.8% in 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 acquiring an additional 1,808,234 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in W&T Offshore in the 4th quarter worth $1,608,000. Millennium Management LLC increased its holdings in W&T Offshore by 24.2% in 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 acquiring an additional 598,614 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in W&T Offshore by 142.8% in 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 acquiring an additional 493,692 shares in the last quarter. Hedge funds and other institutional investors own 42.88% of the company's stock.

W&T Offshore Company Profile

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.