W&T Offshore (NYSE:WTI) Lowered to Sell at StockNews.com

W&T Offshore (NYSE:WTI) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

W&T Offshore Stock Performance

Shares of WTI opened at $2.12 on Thursday. W&T Offshore has a 12 month low of $1.92 and a 12 month high of $4.47. The stock has a fifty day moving average price of $2.25 and a 200-day moving average price of $2.33. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 75.32. The firm has a market cap of $310.61 million, a PE ratio of -14.10 and a beta of 1.40.

W&T Offshore (NYSE:WTI) last released its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). W&T Offshore had a negative net margin of 4.51% and a negative return on equity of 103.71%. The firm had revenue of $142.70 million during the quarter, compared to analyst estimates of $148.05 million. During the same period in the previous year, the company earned ($0.08) earnings per share. W&T Offshore’s revenue was up 13.1% on a year-over-year basis. Equities research analysts predict that W&T Offshore will post -0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On W&T Offshore

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new stake in W&T Offshore during the 1st quarter worth about $1,652,000. Jacobs Levy Equity Management Inc. grew its position in W&T Offshore by 174.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 397,451 shares of the oil and gas company’s stock worth $1,053,000 after purchasing an additional 252,394 shares during the period. Russell Investments Group Ltd. grew its position in W&T Offshore by 33.6% during the 1st quarter. Russell Investments Group Ltd. now owns 1,135,748 shares of the oil and gas company’s stock worth $3,010,000 after purchasing an additional 285,493 shares during the period. Quadrature Capital Ltd acquired a new stake in W&T Offshore during the 1st quarter worth about $629,000. Finally, Virtu Financial LLC acquired a new stake in W&T Offshore during the 1st quarter worth about $191,000. 42.88% of the stock is owned by institutional investors and hedge funds.

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.