W&T Offshore (NYSE:WTI) Raised to Hold at Wall Street Zen

W&T Offshore (NYSE:WTI) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

W&T Offshore Stock Up 10.6%

W&T Offshore stock opened at $2.15 on Friday. The company has a debt-to-equity ratio of 75.32, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $316.71 million, a price-to-earnings ratio of -4.99 and a beta of 0.65. W&T Offshore has a 1-year low of $1.09 and a 1-year high of $2.84. The business has a fifty day moving average price of $1.38 and a 200-day moving average price of $1.55.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The firm had revenue of $129.87 million during the quarter, compared to analysts’ expectations of $123.91 million. W&T Offshore had a negative return on equity of 775.16% and a negative net margin of 11.95%. Equities research analysts forecast that W&T Offshore will post -0.45 EPS for the current fiscal year.

Institutional Trading of W&T Offshore

A number of institutional investors have recently made changes to their positions in WTI. Bank of New York Mellon Corp boosted its position in shares of W&T Offshore by 41.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,262,488 shares of the oil and gas company’s stock worth $2,096,000 after purchasing an additional 368,803 shares in the last quarter. US Bancorp DE purchased a new position in W&T Offshore in the 4th quarter worth $33,000. Raymond James Financial Inc. purchased a new position in W&T Offshore in the 4th quarter worth $32,000. Inspire Advisors LLC purchased a new position in W&T Offshore in the 4th quarter worth $182,000. Finally, Quantbot Technologies LP purchased a new position in W&T Offshore in the 4th quarter worth $111,000. Institutional investors and hedge funds own 42.88% of the company’s stock.

About W&T Offshore

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.