W&T Offshore (NYSE:WTI) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of W&T Offshore (NYSE:WTI) from a buy rating to a hold rating in a research report sent to investors on Sunday.

WTI has been the topic of a number of other research reports. Zacks Research cut shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. William Blair began coverage on W&T Offshore in a research note on Friday, April 17th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a report on Monday, April 20th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

W&T Offshore Stock Down 0.1%

Shares of NYSE:WTI opened at $4.75 on Friday. The stock has a market cap of $705.96 million, a PE ratio of -4.99 and a beta of 0.29. The company’s fifty day moving average is $3.40 and its 200 day moving average is $2.49. W&T Offshore has a 52 week low of $1.34 and a 52 week high of $4.79.

W&T Offshore (NYSE:WTI) last issued its earnings results on Thursday, May 7th. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The company had revenue of $150.02 million for the quarter, compared to the consensus estimate of $138.41 million. Sell-side analysts anticipate that W&T Offshore will post -0.11 EPS for the current year.

W&T Offshore Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Thursday, May 21st will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, May 21st. W&T Offshore’s payout ratio is currently -4.21%.

Hedge Funds Weigh In On W&T Offshore

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. increased its position in shares of W&T Offshore by 1.4% during the fourth quarter. Invesco Ltd. now owns 312,081 shares of the oil and gas company’s stock valued at $509,000 after buying an additional 4,241 shares during the period. Graham Capital Management L.P. increased its position in shares of W&T Offshore by 7.6% during the fourth quarter. Graham Capital Management L.P. now owns 87,530 shares of the oil and gas company’s stock valued at $143,000 after buying an additional 6,195 shares during the period. NewEdge Advisors LLC increased its position in shares of W&T Offshore by 21.7% during the third quarter. NewEdge Advisors LLC now owns 36,610 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 6,524 shares during the period. Raymond James Financial Inc. increased its position in shares of W&T Offshore by 42.7% during the second quarter. Raymond James Financial Inc. now owns 21,957 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 6,569 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of W&T Offshore by 3.0% during the third quarter. Alliancebernstein L.P. now owns 283,774 shares of the oil and gas company’s stock valued at $516,000 after buying an additional 8,200 shares during the period. Hedge funds and other institutional investors own 42.88% of the company’s stock.

About W&T Offshore

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.