ValuEngine Downgrades W&T Offshore (WTI) to Sell

ValuEngine downgraded shares of W&T Offshore (NYSE:WTI) from a hold rating to a sell rating in a research report report published on Thursday.

Several other research firms also recently issued reports on WTI. Zacks Investment Research upgraded W&T Offshore from a hold rating to a strong-buy rating and set a $9.25 price target for the company in a research note on Thursday, September 27th. Roth Capital upgraded W&T Offshore from a neutral rating to a buy rating and boosted their price target for the company from $8.50 to $10.75 in a research note on Monday, October 15th. Seaport Global Securities restated a buy rating on shares of W&T Offshore in a research note on Wednesday, July 25th. Finally, KLR Group restated a sell rating and issued a $6.25 price target on shares of W&T Offshore in a research note on Monday, August 20th. Three research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $8.58.

Shares of WTI stock traded up $0.20 during trading on Thursday, reaching $7.52. 4,168,900 shares of the company’s stock were exchanged, compared to its average volume of 3,303,710. The firm has a market capitalization of $918.41 million, a PE ratio of 13.43 and a beta of 2.56. W&T Offshore has a twelve month low of $2.60 and a twelve month high of $9.88.

W&T Offshore (NYSE:WTI) last posted its earnings results on Wednesday, October 31st. The oil and gas company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The business had revenue of $153.50 million for the quarter, compared to analyst estimates of $146.97 million. W&T Offshore had a negative return on equity of 18.00% and a net margin of 16.40%. The firm’s revenue was up 39.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 EPS. As a group, research analysts predict that W&T Offshore will post 0.93 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in W&T Offshore by 7.9% in the 2nd quarter. BlackRock Inc. now owns 6,750,212 shares of the oil and gas company’s stock valued at $48,263,000 after purchasing an additional 494,001 shares during the period. Renaissance Technologies LLC lifted its position in shares of W&T Offshore by 191.7% during the 2nd quarter. Renaissance Technologies LLC now owns 4,917,100 shares of the oil and gas company’s stock valued at $35,157,000 after acquiring an additional 3,231,300 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of W&T Offshore by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,156,016 shares of the oil and gas company’s stock valued at $29,716,000 after acquiring an additional 527,248 shares during the period. LSV Asset Management lifted its position in shares of W&T Offshore by 750.9% during the 2nd quarter. LSV Asset Management now owns 3,634,000 shares of the oil and gas company’s stock valued at $25,983,000 after acquiring an additional 3,206,900 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in shares of W&T Offshore during the 3rd quarter valued at $26,802,000. Institutional investors and hedge funds own 59.96% of the company’s stock.

About W&T Offshore

W&T Offshore, Inc, an independent oil and natural gas producer, acquires, explores for, and develops oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interests in approximately 49 offshore fields in federal and state waters.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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