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

Wall Street Zen upgraded shares of W&T Offshore (NYSE:WTI) from a sell rating to a hold rating in a research report report published on Sunday morning.

Separately, Pareto Securities initiated coverage on shares of W&T Offshore in a research report on Thursday, September 4th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

W&T Offshore Stock Performance

Shares of NYSE:WTI opened at $1.81 on Friday. The company has a 50 day moving average price of $1.76 and a two-hundred day moving average price of $1.60. W&T Offshore has a 52 week low of $1.09 and a 52 week high of $2.84. The company has a market capitalization of $267.75 million, a PE ratio of -2.38 and a beta of 0.73.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Monday, August 4th. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.06. The company had revenue of $122.37 million for the quarter, compared to the consensus estimate of $131.30 million. On average, sell-side analysts forecast that W&T Offshore will post -0.45 earnings per share for the current year.

W&T Offshore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were paid a $0.01 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.04 dividend on an annualized basis and a yield of 2.2%. W&T Offshore’s dividend payout ratio (DPR) is currently -5.26%.

Hedge Funds Weigh In On W&T Offshore

Large investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in shares of W&T Offshore by 137.4% in the fourth quarter. Bank of America Corp DE now owns 246,893 shares of the oil and gas company’s stock valued at $410,000 after purchasing an additional 142,899 shares during the period. Rhumbline Advisers increased its position in W&T Offshore by 24.5% during the first quarter. Rhumbline Advisers now owns 299,473 shares of the oil and gas company’s stock worth $464,000 after acquiring an additional 59,012 shares during the period. Ameriprise Financial Inc. increased its position in W&T Offshore by 427.0% during the fourth 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 during the period. Charles Schwab Investment Management Inc. increased its position in W&T Offshore by 142.8% during the first 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 during the period. Finally, Millennium Management LLC increased its position in W&T Offshore by 31.2% during the fourth quarter. Millennium Management LLC now owns 2,472,996 shares of the oil and gas company’s stock worth $4,105,000 after acquiring an additional 588,106 shares during the period. 42.88% of the stock is owned by institutional investors.

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.