Capital One Financial downgraded shares of W&T Offshore (NYSE:WTI) from an equal weight rating to an underweight rating in a report published on Wednesday morning, Marketbeat reports.
Separately, Zacks Investment Research downgraded shares of W&T Offshore from a buy rating to a hold rating in a research note on Friday, October 6th. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock currently has a consensus rating of Sell and an average target price of $2.50.
Shares of W&T Offshore (NYSE:WTI) opened at $4.88 on Wednesday. The stock has a market cap of $672.57, a P/E ratio of 10.17 and a beta of 2.49. W&T Offshore has a 52 week low of $1.81 and a 52 week high of $5.10. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of -1.65.
W&T Offshore (NYSE:WTI) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The business had revenue of $110.30 million for the quarter, compared to the consensus estimate of $119.50 million. W&T Offshore had a net margin of 15.38% and a negative return on equity of 10.86%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.24) EPS. sell-side analysts anticipate that W&T Offshore will post 0.48 earnings per share for the current fiscal year.
In related 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 sale, the insider now directly owns 476,030 shares of the company’s stock, valued at approximately $1,328,123.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Stephen L. Schroeder sold 18,762 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $2.81, for a total transaction of $52,721.22. Following 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. 32.58% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu KCG Holdings LLC increased its stake in W&T Offshore by 9.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 125,107 shares of the oil and gas company’s stock worth $245,000 after buying an additional 10,278 shares during the period. New York State Common Retirement Fund increased its stake in W&T Offshore by 62.0% during the 2nd quarter. New York State Common Retirement Fund now owns 52,000 shares of the oil and gas company’s stock worth $102,000 after buying an additional 19,899 shares during the period. Zacks Investment Management increased its stake in W&T Offshore by 68.8% during the 2nd quarter. Zacks Investment Management now owns 66,916 shares of the oil and gas company’s stock worth $131,000 after buying an additional 27,270 shares during the period. Alliancebernstein L.P. increased its stake in W&T Offshore by 58.5% during the 2nd quarter. Alliancebernstein L.P. now owns 91,308 shares of the oil and gas company’s stock worth $179,000 after buying an additional 33,700 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in W&T Offshore during the 3rd quarter worth approximately $120,000. 47.98% of the stock is currently owned by hedge funds and other institutional investors.
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About W&T Offshore
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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