W&T Offshore (NYSE:WTI) was downgraded by stock analysts at Capital One Financial from an “equal weight” rating to an “underweight” rating in a note issued to investors on Wednesday, MarketBeat.com reports.

Separately, Zacks Investment Research lowered shares of W&T Offshore from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Four research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company has an average rating of “Sell” and a consensus price target of $2.50.

W&T Offshore (NYSE:WTI) traded up $0.08 during midday trading on Wednesday, hitting $4.88. 4,135,900 shares of the company traded hands, compared to its average volume of 2,470,000. The company has a debt-to-equity ratio of -1.65, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $672.57, a price-to-earnings ratio of 9.21 and a beta of 2.49. W&T Offshore has a 1 year low of $1.81 and a 1 year high of $5.10.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.06. W&T Offshore had a net margin of 15.38% and a negative return on equity of 10.86%. The business had revenue of $110.30 million for the quarter, compared to analyst estimates of $119.50 million. During the same quarter in the prior year, the business posted ($0.24) EPS. W&T Offshore’s revenue for the quarter was up 2.7% compared to the same quarter last year. analysts anticipate that W&T Offshore will post 0.48 EPS for the current year.

In other W&T Offshore news, insider John D. Gibbons sold 29,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $2.79, for a total transaction of $80,910.00. Following the transaction, the insider now owns 476,030 shares in the company, valued at approximately $1,328,123.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen L. Schroeder sold 18,762 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $2.81, for a total transaction of $52,721.22. Following the completion of the sale, the senior vice president now directly owns 366,592 shares in the company, valued at $1,030,123.52. The disclosure for this sale can be found here. Corporate insiders own 32.58% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Systematic Financial Management LP purchased a new stake in shares of W&T Offshore in the 3rd quarter valued at $2,227,000. First Quadrant L P CA purchased a new stake in shares of W&T Offshore in the 3rd quarter valued at $961,000. Macquarie Group Ltd. purchased a new stake in shares of W&T Offshore in the 3rd quarter valued at $880,000. Phoenix Investment Adviser LLC purchased a new stake in shares of W&T Offshore in the 3rd quarter valued at $390,000. Finally, Northern Trust Corp boosted its holdings in shares of W&T Offshore by 25.7% in the 2nd quarter. Northern Trust Corp now owns 485,235 shares of the oil and gas company’s stock valued at $951,000 after acquiring an additional 99,137 shares during the last quarter. 47.98% of the stock is currently owned by institutional investors and hedge funds.

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W&T Offshore Company Profile

W&T Offshore, Inc is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico. As of December 31, 2016, the Company had interests in offshore leases covering approximately 750,000 gross acres (450,000 net acres) spanning across the Outer Continental Shelf (OCS) off the coasts of Louisiana, Texas, Mississippi and Alabama.

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