W&T Offshore (NYSE:WTI) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of W&T Offshore (NYSE:WTI) from a hold rating to a sell rating in a research note published on Wednesday morning.

W&T Offshore Stock Up 1.7 %

WTI stock opened at $1.47 on Wednesday. W&T Offshore has a twelve month low of $1.30 and a twelve month high of $2.84. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 75.32. The stock has a market cap of $216.29 million, a P/E ratio of -3.41 and a beta of 1.14. The business’s 50-day moving average price is $1.69 and its 200-day moving average price is $1.92.

W&T Offshore Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, March 17th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.73%. W&T Offshore’s payout ratio is currently -6.78%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WTI. Intech Investment Management LLC purchased a new position in W&T Offshore in the 3rd quarter worth approximately $64,000. FMR LLC lifted its holdings in W&T Offshore by 72.1% in the 3rd quarter. FMR LLC now owns 37,846 shares of the oil and gas company’s stock worth $81,000 after purchasing an additional 15,852 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in W&T Offshore by 307.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 138,029 shares of the oil and gas company’s stock worth $297,000 after purchasing an additional 104,156 shares in the last quarter. Barclays PLC lifted its holdings in W&T Offshore by 317.3% in the 3rd quarter. Barclays PLC now owns 140,781 shares of the oil and gas company’s stock worth $303,000 after purchasing an additional 107,045 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in W&T Offshore by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,146,569 shares of the oil and gas company’s stock worth $4,616,000 after purchasing an additional 52,186 shares in the last quarter. 42.88% of the stock is owned by hedge funds and other 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.