W&T Offshore (NYSE:WTI) Cut to “Sell” at Wall Street Zen

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

W&T Offshore Trading Down 4.2%

NYSE:WTI opened at $2.06 on Friday. The firm has a fifty day simple moving average of $1.51 and a two-hundred day simple moving average of $1.56. The stock has a market capitalization of $304.16 million, a price-to-earnings ratio of -2.86 and a beta of 0.65. W&T Offshore has a 12 month low of $1.09 and a 12 month high of $2.84.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. W&T Offshore had a negative net margin of 20.66% and a negative return on equity of 775.16%. The business had revenue of $129.87 million during the quarter, compared to the consensus estimate of $123.91 million. Equities analysts predict that W&T Offshore will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of W&T Offshore

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers raised its stake in shares of W&T Offshore by 24.5% in the first quarter. Rhumbline Advisers now owns 299,473 shares of the oil and gas company’s stock valued at $464,000 after buying an additional 59,012 shares during the period. Jane Street Group LLC boosted its position in shares of W&T Offshore by 826.2% during the 1st quarter. Jane Street Group LLC now owns 324,807 shares of the oil and gas company’s stock valued at $503,000 after acquiring an additional 289,739 shares during the last quarter. Millennium Management LLC grew its stake in W&T Offshore by 24.2% in the 1st quarter. Millennium Management LLC now owns 3,071,610 shares of the oil and gas company’s stock worth $4,761,000 after buying an additional 598,614 shares in the last quarter. AQR Capital Management LLC raised its position in W&T Offshore by 309.7% during the first quarter. AQR Capital Management LLC now owns 120,911 shares of the oil and gas company’s stock valued at $187,000 after purchasing an additional 91,400 shares in the last quarter. Finally, Huber Capital Management LLC lifted its position in W&T Offshore by 35.8% in the 1st quarter. Huber Capital Management LLC now owns 6,858,684 shares of the oil and gas company’s stock worth $10,631,000 after buying an additional 1,808,234 shares during the last quarter. 42.88% of the stock is owned by hedge funds and other institutional investors.

W&T Offshore Company Profile

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.