W&T Offshore (NYSE:WTI) Upgraded at StockNews.com

StockNews.com upgraded shares of W&T Offshore (NYSE:WTI) from a sell rating to a hold rating in a report issued on Friday.

W&T Offshore Stock Performance

NYSE:WTI opened at $1.70 on Friday. The company has a debt-to-equity ratio of 75.32, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $250.51 million, a PE ratio of -3.95 and a beta of 1.35. W&T Offshore has a fifty-two week low of $1.69 and a fifty-two week high of $3.44. The company has a fifty day moving average of $2.05 and a two-hundred day moving average of $2.16.

W&T Offshore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 21st were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, November 21st. W&T Offshore’s dividend payout ratio is presently -9.30%.

Hedge Funds Weigh In On W&T Offshore

Several hedge funds and other institutional investors have recently made changes to their positions in WTI. CCG Wealth Management LLC purchased a new position in shares of W&T Offshore in the second quarter worth about $26,000. Verum Partners LLC acquired a new stake in W&T Offshore in the 3rd quarter valued at about $32,000. Caprock Group LLC purchased a new position in W&T Offshore in the 2nd quarter worth approximately $34,000. Sei Investments Co. acquired a new position in shares of W&T Offshore during the 2nd quarter worth approximately $37,000. Finally, Signaturefd LLC grew its position in shares of W&T Offshore by 203.1% in the second quarter. Signaturefd LLC now owns 19,640 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 13,161 shares in the last quarter. Hedge funds and other institutional investors own 42.88% of the company’s stock.

W&T Offshore Company Profile

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.