W&T Offshore (NYSE:WTI) Rating Lowered to “Hold” at Zacks Research

W&T Offshore (NYSE:WTI) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, W&T Offshore presently has a consensus rating of “Hold”.

W&T Offshore Stock Up 3.3%

W&T Offshore stock opened at $2.65 on Thursday. The company has a 50 day moving average of $2.03 and a 200-day moving average of $1.94. W&T Offshore has a twelve month low of $1.09 and a twelve month high of $2.78. The stock has a market capitalization of $393.52 million, a PE ratio of -2.67 and a beta of 0.35.

Institutional Investors Weigh In On W&T Offshore

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in W&T Offshore by 1.4% during the 4th quarter. Invesco Ltd. now owns 312,081 shares of the oil and gas company’s stock worth $509,000 after buying an additional 4,241 shares in the last quarter. Octavia Wealth Advisors LLC increased its position in shares of W&T Offshore by 20.4% in the third quarter. Octavia Wealth Advisors LLC now owns 31,500 shares of the oil and gas company’s stock valued at $57,000 after acquiring an additional 5,340 shares during the last quarter. Graham Capital Management L.P. raised its holdings in 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 worth $143,000 after acquiring an additional 6,195 shares in the last quarter. NewEdge Advisors LLC raised its holdings in 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 worth $67,000 after acquiring an additional 6,524 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in 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 purchasing an additional 6,569 shares during the last quarter. 42.88% of the stock is currently owned by institutional investors and hedge funds.

W&T Offshore Company Profile

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.