StockNews.com lowered shares of W&T Offshore (NYSE:WTI – Free Report) from a hold rating to a sell rating in a research note published on Tuesday.
W&T Offshore Price Performance
Shares of W&T Offshore stock traded down $0.19 on Tuesday, reaching $2.10. The stock had a trading volume of 1,659,899 shares, compared to its average volume of 2,138,615. The business’s 50 day moving average is $2.28 and its two-hundred day moving average is $2.41. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 75.32. W&T Offshore has a 1 year low of $1.99 and a 1 year high of $4.51. The company has a market cap of $308.41 million, a P/E ratio of -14.13 and a beta of 1.40.
W&T Offshore (NYSE:WTI – Get Free Report) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The business had revenue of $142.70 million for the quarter, compared to analysts’ expectations of $148.05 million. W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. W&T Offshore’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. As a group, research analysts anticipate that W&T Offshore will post -0.34 EPS for the current year.
W&T Offshore Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 20th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.90%. The ex-dividend date was Tuesday, August 20th. W&T Offshore’s dividend payout ratio is presently -26.66%.
Hedge Funds Weigh In On W&T Offshore
Hedge funds have recently modified their holdings of the company. Huber Capital Management LLC lifted its stake in shares of W&T Offshore by 18.1% in the 2nd quarter. Huber Capital Management LLC now owns 4,763,734 shares of the oil and gas company’s stock valued at $10,194,000 after purchasing an additional 731,254 shares during the period. Russell Investments Group Ltd. lifted its position in W&T Offshore by 33.6% during the first quarter. Russell Investments Group Ltd. now owns 1,135,748 shares of the oil and gas company’s stock valued at $3,010,000 after buying an additional 285,493 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of W&T Offshore by 5.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,009,865 shares of the oil and gas company’s stock valued at $2,161,000 after buying an additional 50,094 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of W&T Offshore during the 1st quarter valued at $1,652,000. Finally, Squarepoint Ops LLC grew its position in shares of W&T Offshore by 197.3% in the 2nd quarter. Squarepoint Ops LLC now owns 413,139 shares of the oil and gas company’s stock worth $884,000 after buying an additional 274,156 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, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.